Navigation Links
Cayman Enterprise City’s Overseas Trips to Silicon Valley and Toronto Producing Results
Date:5/29/2013

(PRWEB) May 29, 2013

Cayman Enterprise City, a knowledge-based and high tech Special Economic Zone in the Cayman Islands, is moving closer to its goal of having 100 companies in the Zone by the end of 2013, following two successful and strategic outreach trips in April to the Silicon Valley in Northern California and Toronto, Canada. A CEC team of business development managers joined attorney Wendy Lee, from the Cayman office of the award winning international law firm Harneys, on the Silicon Valley trip. Lee was a U.S. securities and mergers and acquisitions attorney in the Silicon Valley before moving to the Cayman Islands, and her extensive contacts led to a number of high-level meetings, including some with large global brands. CEC’s business development teams met with more than 50 potential clients and channel partners in both the Silicon Valley and Toronto.

The goal of both trips was to present Cayman Enterprise City and the Cayman Islands as the ideal place for technology companies to set up an office to expand their business globally. One Toronto client signed up on the spot, and two Silicon Valley companies followed suit in the days after the team’s return to Cayman. Subsequent to these trips, several more companies are in the active sales process, and the CEC team is now following up on leads garnered during the trips and making plans for more outreaches.

“Our reception in the Silicon Valley was very good,” says Global Business Development Manager Dean Allen. “Technology companies with Intellectual Property embraced CEC as a solution for mitigating their tax burden, and as the answer to the H1-B visa problems they experience for technical staff who are not US citizens.” An H1-B visa allows US employers to temporarily employ foreign workers in specialty occupations, but the number of visas issued each year by the U.S. government is limited. Allen explained the ease with which a company can get visas for its technical staff in Cayman Enterprise City is a key selling point. “Getting a work visa as an employee of a CEC zone company is a relatively simple process and generally applications are granted by the Government Authority within 5 working days.”

The CEC team met with three big name Silicon Valley high tech companies that currently have international operations in Ireland and Switzerland. “They were pleased that CEC gives businesses the option to house physical operations in Cayman, which is far more convenient to the US time zone and even better on taxation than Ireland and Switzerland,” says Allen.

“I personally am blown away by Silicon Valley, the energy, entrepreneurism, opportunity, and creativity and in most cases, genius of its inhabitants, and I see great synergies with CEC’s technology cluster,” he says. Allen adds that CEC is not aiming to take established businesses away from Silicon Valley but offering those companies the option to set up an international sales office to service their non US clients from Cayman Enterprise City.

Wendy Lee adds, “For companies generating a lot of international income outside of the U.S. CEC makes a lot of sense because it allows companies to establish an actual physical presence in the Cayman Islands on a cost-effective basis and generate active business income from there.” She says, “Cayman also has an extensive and highly developed professional infrastructure which makes setting up operations in Cayman easier than in some other jurisdictions.”

Global Business Development Manager Christopher Morgan found the same attitudes in potential clients he met with in Toronto, which included digital media, biotech and technology companies. “I came away with a much clearer sense of CEC’s value proposition and how with the Tax Information Exchange Agreement in force between Canada and the Cayman Islands our clients can maximize the profitability of their companies internationally."

During these trips the CEC team also had a chance to debunk common myths about the Cayman Islands as a tax haven. “The Cayman Islands is a British overseas territory with a robust legal system based on English common law,” states Allen. “It is OECD ‘white’ listed and Cayman, as a jurisdiction, made the decision many years ago to go ahead and respect international-level requirements in terms of transparency; know your customer; anti-money laundering legislation; and client due diligence.”

“I feel we left them all with a positive impression,” agrees Morgan. “These clients will in turn speak to other business associates, and getting the word out to a relevant audience puts CEC on the radar of other potential clients.”

About Cayman Enterprise City
Cayman Enterprise City is a Special Economic Zone in the Cayman Islands, focused on knowledge-based industries, technology companies and specialized services businesses. With a dedicated Government Authority and guaranteed fast-track processes, International companies can quickly and efficiently establish a genuine physical presence and active business income in the Cayman Islands, which demonstrates substance over form. This enables businesses to take advantage of Cayman’s jurisdictional benefits which include zero corporate tax, zero income tax and zero capital gains tax, along with a raft of special zone concessions and incentives. These concessions are designed to attract international companies from five specific high-tech sectors; internet and technology, media and new-media ventures, biotechnology, commodities and derivatives and academia. For more information call +1-345-945-3722, e-mail h.cahill (at) CaymanEnterpriseCity (dot) com.

About Harney Westwood & Riegels
Harney Westwood & Riegels is an award-winning international law firm. In the Cayman Islands Harneys offers an extensive range of legal services providing expert advice on major corporate and commercial transactions and the establishment of a wide range of corporate vehicles including entities with a physical presence in the Cayman Islands. The firm also employs experts in investment funds and derivatives and commodities transactions, as well as employment, immigration, insurance, litigation, and patent and trademark law. Through Harneys Corporate Services, Harneys also assist clients with the incorporation of companies in the Cayman Islands and the British Virgin Islands. Harneys provides advice on Cayman Islands, British Virgin Islands, Cyprus and Anguilla law to an international client base through a network of six offices around the globe. The world’s leading independent legal ranking directories call Harneys’ lawyers attentive, commercially aware and responsive and the firm is consistently ranked as one of the top law firms in the jurisdictions in which the firm practices. Legal 500 describes Harneys’ Cayman Islands office as “energetic, responsive and effective.” For more information about Harneys in the Cayman Islands, please contact Wendy Lee at wendy.lee (at) harneys (dot) com or +1 (345) 815-2924.

Read the full story at http://www.prweb.com/releases/2013/5/prweb10772846.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Cayman Enterprise City Introduces Referral Network
2. Kudos for 3 NJIT Enterprise Development Center high-tech companies
3. Dominion Enterprises Employees Hit The Streets for CHKD Walk
4. Eclipse Offers Enterprise Document Generation Competitive Upgrade
5. GLOBODOX (Enterprise Document Management Software) Launches Contest for Legal Experts to Define Technology Challenges Expected in 2013
6. USHEALTH Group, Inc. Acquires Enterprise Life Insurance Company
7. QuickMedical Launches Fabrication Enterprises Physical Therapy/Occupational Therapy Products
8. The Hong Kong Polytechnic University promotes knowledge enterprises through MAKE Award
9. Application Development Firm Anahata Technologies Pty Ltd Announces JavaFX 2.0 as Technology of Choice for Enterprise Applications
10. Application Development Company Anahata Technologies Announces CentOS As Server OS Of Choice For Enterprise Applications
11. Henry Ford Expands Use of Apollo EPMM® to Provide Clinical Multimedia Management Solutions Enterprise-wide
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/18/2017)... CA & CARMEL, IN (PRWEB) , ... August 18, 2017 , ... ... on its 36th annual list, the most prestigious ranking of the nation's fastest-growing private ... been included in the exclusive Inc. 5000 ranking . This year’s ranking reflects ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Three Narrow Roads”: a vivid and ... of published author, Rev. Dr. Burnett King Sr., is currently the pastor-teacher-visionary at Simply ... the Faith Track Club, Inc., a track-and-field program geared towards youth. , King shares, ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Kingdom Mandate for Kingdom Builders”: ... “Kingdom Mandate for Kingdom Builders” is the creation of published author, John F. ... Eastern Europe as a missionary in 1983. He spent three decades training pastors ...
(Date:8/17/2017)... ... August 17, 2017 , ... Riccobene Associates ... location in Goldsboro, NC to its family of practices. Residents of Goldsboro will ... starting August 15, 2017. , Riccobene Associates Family Dentistry, founded by Dr. ...
(Date:8/17/2017)... MA (PRWEB) , ... August 17, 2017 , ... ... will come together on September 19, 2017 for Anti-Infectives Rx. This off-the-record networking ... B. Martin Conference Center at Harvard Medical School. , Industry leaders and decision ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)... 7, 2017 Zimmer Biomet Holdings, Inc. (NYSE and ... that its Board of Directors has approved the payment of ... of 2017. The cash ... about October 27, 2017 to stockholders of record as of ... of dividends are subject to approval of the Board of ...
(Date:8/4/2017)... -- Agragen, LLC, a Cincinnati -based ... and aquacultural feed sectors, announces a significant step ... AGR131.  This drug is designed to trap and ... patients suffering from inflammatory conditions such as rheumatoid ... Biological pharmaceuticals currently used ...
(Date:8/2/2017)... , Aug. 2, 2017 CaryRx, a next-generation full-service ... delivery service for patients in the Washington D.C. ... retail pharmacy by providing delivery of medications through the convenience ... future delivery or delivered within one hour to any location ... excited to bring this invaluable service to Washington ...
Breaking Medicine Technology: