avatar

Following on from my previous posts about the Cayman Enterprise City, it has been formally confirmed that companies located within the Zone and their employees will not have to comply with the existing work permit protocols.

Given the recent overhauls within the work permit process, namely the suspending of the rollover, it was expected that concessions and exemptions would be granted for the CEC. At present however, it is still unclear to what level those concessions may be.

Of further interest is that company will also be exempt from complying with the Cayman Local Companies Control Law, i.e. that companies must be 60% owned by a Caymanian organisation.

What remains clear, is that the rules, regulations and legislations necessary to making the Enterprise Zone a well oiled machine, are still some way off being discussed and ratified, however, as this article goes on to mention, the future still looks positive for the Cayman Islands IT industry.

http://www.caymannewsservice.com/business/2011/09/26/no-work-permits-techy-zone

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>