AGP Executive Report

Financial Services: Carey Olsen has promoted Cayman trusts and private-wealth lawyer Katie Turney to counsel, strengthening its local team as the Premier meets reinsurance, investment and banking leaders in New York and Toronto to promote the jurisdiction’s financial sector. Economic Diversification: Cayman Enterprise City now hosts 500 Special Economic Zone businesses. Its latest impact assessment puts cumulative economic impact above US$1.23 billion since 2012. Real Estate: Cayman property sales are nearing $1 billion, with condo prices still rising. Regulation: The Cayman Islands hosted CFATF ministers and officials for talks on anti-money-laundering standards as the territory prepares for its 2027 evaluation. Aviation: Phenix Jet Cayman has added its first Global 8000 and expects a second in early 2027.

Financial Services: Premier André Ebanks is in New York and Toronto this week to meet reinsurance, investment and banking leaders, promote Cayman’s financial sector and discuss its insurance framework. Economic Diversification: Cayman Enterprise City has reached 500 Special Economic Zone businesses. An independent assessment puts the Zone’s cumulative economic impact above US$1.23 billion since 2012, including US$152.3 million in 2025. Financial Oversight: Cayman hosted the CFATF Council of Ministers, as the territory prepares for its own anti-money-laundering assessment in December 2027. Public Finances: The Government’s expected year-end surplus has risen to CI$26.6 million. Parliament’s Finance Committee also approved CI$44.9 million in supplementary funding, largely for healthcare and community support. Property Market: Cayman real estate sales are nearing $1 billion, with condo prices continuing to rise.

Financial Services: Cayman hosted CFATF ministers as it prepares for a regional anti-money-laundering evaluation in December 2027. Premier André Ebanks is also meeting reinsurance and investment leaders in New York and Toronto to promote the sector. Economic Diversification: Cayman Enterprise City now hosts 500 Special Economic Zone businesses. The zone reports US$1.23 billion in cumulative economic impact since 2012, including US$152.3 million in 2025. Public Finances: Finance Committee approved CI$44.9 million in supplementary spending, mainly for healthcare and community support. Despite the increase, the government expects a CI$26.6 million year-end surplus—above its original forecast. Property Market: Cayman real estate sales are nearing CI$1 billion, with condo prices still rising and inventory tight. Business Data: The 2026 Occupational Wage Survey is collecting pay, employment and skills information to help employers and workers compare compensation across industries.

Financial Services: Premier André Ebanks heads to New York and Toronto this week to meet reinsurance, investment and banking leaders and promote Cayman’s financial sector. Public Finances: Finance Committee approved CI$44.9 million in extra 2026 spending, mostly for healthcare and community support. The year-end surplus is still forecast at CI$26.6 million—CI$16.6 million above the original projection—after the budget grew by nearly CI$180 million. Business and Jobs: The Economics and Statistics Office has begun its 2026 Occupational Wage Survey, gathering pay, skills and employment data from businesses and government. Cayman Enterprise City has reached 500 companies, while real estate sales are nearing $1 billion and condo prices continue to rise. Offshore Finance: Maryland officials are again examining whether nonprofit hospitals should pay state taxes on funds held in Cayman-domiciled captive insurers. Corporate Growth: Cayman-based Consolidated Water won a US$39.8 million contract to build an advanced water purification facility in California. Currency: New Cayman coins featuring King Charles III are expected to enter circulation next week; existing coins remain legal tender.

Currency: New Cayman Islands coins featuring King Charles III will enter circulation next week; Queen Elizabeth II coins remain legal tender. Public finances: Parliament’s Finance Committee approved CI$44.9 million in extra 2026 spending, mostly for healthcare and community support. The year-end surplus is forecast at CI$26.6 million, CI$16.6 million above the original estimate. Labour market: The Economics and Statistics Office has launched its wage survey, collecting pay, skills and employment data to help businesses compare compensation across industries. Property: Real estate sales through September were close to the market’s annual record, while condo inventory remains tight and prices are rising. Long-term investment: Parliament unanimously backed the idea of a Cayman Islands sovereign wealth fund, with research and consultation ahead and no launch date set. Business growth: Cayman Enterprise City has reached 500 companies.

Property Market: Cayman real estate sales are nearing CI$1 billion, with condo prices still rising and inventory tight. Public Finances: Government expects a CI$26.6 million year-end surplus, about CI$16.6 million above forecast, despite approving nearly CI$45 million in additional spending. Sovereign Wealth Fund: Parliament unanimously backed establishing a fund for the benefit of Caymanians, with research, consultation and governance planning still ahead. Business Growth: Cayman Enterprise City has reached 500 companies, while Dart’s planned Brya development will add 166 rental homes and new office, retail and dining space at Camana Bay. Financial Services: Cayman has entered the assessment phase of its CFATF review, a key test of the jurisdiction’s efforts to protect its financial system and maintain international confidence.

Property Market: Cayman’s real estate sales through September were close to last year’s full-year record, with condo prices still rising and completed inventory tight. Public Finances: The government expects a CI$26.6 million year-end surplus, about CI$16.6 million above its original forecast, despite nearly CI$45 million in added spending. Welfare funding is also under review as assistance reaches about 3,000 people. Sovereign Fund: Parliament unanimously backed the idea of a Cayman fund for the public’s benefit, with research, consultation and governance planning still ahead. Financial Services: Cayman has entered the assessment phase of its fifth-round CFATF review, which will examine both its rules and how effectively they are enforced. Business Growth: Cayman Enterprise City has reached 500 companies, while Cayman’s investment in the UK economy has more than doubled to £99 billion.

Property Market: Cayman real estate sales were close to the market’s annual record by September, with condo prices still rising and completed inventory tight. Public Finances: The government now expects a CI$26.6 million year-end surplus, CI$16.6 million above its original forecast, despite approving nearly CI$45 million in extra spending. Sovereign Wealth Fund: Parliament unanimously backed the idea of a fund for the benefit of Caymanians, with research, consultation and governance planning still to come. Financial Services: Cayman has entered the assessment phase of its fifth CFATF review, which will examine not only its laws but how effectively it supervises and enforces them. Business Growth: Cayman Enterprise City has reached 500 companies, while Cayman investment in the UK economy has more than doubled to £99 billion. Camana Bay: Dart’s planned 10-storey Brya will add 166 rental homes, offices, shops and restaurants, with completion targeted for 2028.

Financial Services: Cayman has entered the assessment phase of its fifth-round CFATF review, with an on-site visit due late next year. The review will test not just the rules, but how effectively the jurisdiction supervises, investigates and prosecutes financial crime. Public Finances: The government now expects a CI$26.6 million year-end surplus, CI$16.6 million above its original forecast, despite approving nearly CI$45 million in extra spending. The 2026 budget has risen by almost CI$180 million. Property and Investment: Real estate sales through September are nearing $1 billion, with condo prices still climbing and inventory tight. Dart’s new Camana Bay project, The Brya, will add 166 rental homes, offices and retail space by 2028. Parliament also unanimously backed work towards a Cayman sovereign wealth fund, while Cayman’s investment in the UK economy has more than doubled to £99 billion.

Property Market: Cayman real estate sales through September have nearly matched last year’s full-year record, while tight condo inventory is keeping prices up. Public Finances: Government is seeking more welfare funding as assistance costs approach CI$50 million a year; about 3,000 people receive support. Sovereign Wealth Fund: Parliament unanimously backed the fund in principle, with research, consultation and governance planning still to come. Financial Services: Cayman has entered the assessment phase of its fifth CFATF review, with an on-site visit expected late next year. Economic Diversification: Cayman Enterprise City now hosts 500 Special Economic Zone businesses, a milestone the government says should bring high-value jobs and opportunities for local firms. Development: Dart’s 10-storey Brya project will add 166 rental homes, office space, shops and restaurants to Camana Bay when it is completed in 2028.

Sovereign Wealth Fund: Parliament unanimously backed the proposal in principle, calling for research, public consultation and an advisory committee before Cayman establishes a fund for residents. No launch date has been set. Financial Integrity: Cayman has entered the assessment phase of its fifth CFATF mutual evaluation. The review will examine not just laws but how effectively the jurisdiction detects and prosecutes financial crime, with an on-site visit expected late next year. Economic Diversification: Cayman Enterprise City has reached 500 businesses in its special economic zone, a milestone the government says can expand high-value careers and opportunities for local firms. Camana Bay Development: Dart’s 10-storey Brya project will add 166 rental homes, office space, shops and restaurants, with completion scheduled for 2028. Digital Finance: First Digital has agreed to merge with a SPAC, creating a Cayman Islands holding company planned for a Nasdaq listing in the first half of 2027; the deal values the company at $250 million before the merger.

Financial Integrity: Cayman has entered the assessment phase of its fifth CFATF review, with an on-site visit planned for December 2027. Premier André Ebanks says the jurisdiction must show its rules are working in practice to detect and prosecute financial crime. Digital Finance: OSL Group is powering the tokenization of USDGO Plus, a market-neutral fund structured as a Cayman segregated portfolio. The fund is offered to eligible professional investors in Hong Kong. Commercial Development: Dart’s 10-storey Brya is under construction at Camana Bay, with 166 rental homes, office space and shops planned for completion in 2028. Economic Diversification: Cayman Enterprise City now hosts 500 Special Economic Zone businesses, a milestone the government says can bring high-value jobs and opportunities for local firms. Financial Services: More than 225 industry, government and regulatory leaders gathered at the Spectrum conference to discuss Cayman’s global standing, tax transparency, AI and digital assets. Business Leadership: Expertise Group named Claudia Philipsz-Jones CEO from January; she previously led its Cayman office.

Capital Markets: First Digital, the Hong Kong group behind FDUSD, agreed to a $250 million SPAC merger that would create a Cayman Islands holding company listed on Nasdaq. Closing is expected in the first half of 2027; its Finance District products are not yet a material source of revenue. Financial Services: Cayman’s Spectrum conference drew more than 225 industry, government and regulatory leaders to discuss the jurisdiction’s global standing, tax transparency, AI and digital assets. Economic Diversification: Cayman Enterprise City now hosts 500 Special Economic Zone businesses, a milestone the government says can expand high-value careers and local opportunities. Digital Asset Governance: Cayman firm Marfire marked five years as the sector shifts toward larger, more institutional structures and higher governance expectations. Regional Compliance: Cayman hosted CFATF ministers and officials for talks on financial-crime standards as the Islands prepare for a FATF assessment in December 2027. UK Investment: Cayman’s investment in the UK economy has more than doubled to £99 billion, according to a recent report.

Economic Diversification: Cayman Enterprise City has reached 500 companies in its Special Economic Zone. Premier André Ebanks said the milestone should bring more high-value jobs, opportunities for local businesses and knowledge transfer. Financial Services: More than 225 industry leaders gathered at the Spectrum conference to discuss tax transparency, AI, digital assets and Cayman’s global competitiveness. Governance: Cayman-based Marfire marked five years as digital-asset structures grow more institutional and expectations for accountability and risk management rise. Regional Compliance: Cayman hosted the CFATF Council of Ministers as the jurisdiction prepares for its own financial-crime standards assessment in December 2027. Investment Links: Cayman’s direct investment position in the UK reached £99.3 billion at the end of 2024, up 142% in a year, according to Cayman Finance analysis of official data.

Crypto & Trust: BTCC, incorporated in the Cayman Islands, launched a refreshed Trust Center to mark its 15th anniversary, highlighting monthly Proof of Reserves, a $25.5m Risk Reserve Fund, 24/7 AML controls, and independent security audits. Local Economy & Jobs: Massy Cat faces retrenchment as it transitions its Caterpillar business to Machinery Corporation Motors Ltd (MACORP); TIWU says 187 jobs are at risk, with Massy saying at least 25% of affected staff will be retained. Regional Finance Integrity: The Cayman Islands hosted CFATF’s 18th Council of Ministers Meeting on AML and counter-terror financing, as the territory prepares for its FATF-standard evaluation in December 2027. Public Safety Spending: Government will invest CI$130,000 in new CCTV cameras to expand coverage and improve crime detection and response. Tourism & Business Events: Cayman Islands Department of Tourism is lead sponsor for the 2026 Caribbean Media Exchange (CMEx) Leadership Awards in Miami on Dec 6. Health Policy: Public consultation opened on proposals for a National Cancer Registry to improve national cancer data for prevention and treatment planning. Investment Flows: Cayman funds and structures reportedly boosted UK investment to nearly £100bn, with Cayman direct investment in the UK rising to £99.3bn at end-2024.

Agentic Economy & Crypto Finance: First Digital signed a definitive deal to combine with Nasdaq-listed CSLM Digital Asset Acquisition Corp III, aiming to become a Nasdaq-listed public company in H1 2027; the group behind FDUSD (cash-backed stablecoin) and Finance District says the transaction values it at $250m pre-money. Local Public Safety: Cayman’s government will spend CI$130,000 to expand the national CCTV system, with new cameras prioritised for East End to improve coverage, crime detection and court outcomes. Cayman’s Global Capital Flows: Cayman Finance analysis says Cayman investment into the UK has more than doubled to £99bn, with Cayman funds holding US$733bn in UK portfolio assets at end-2024. Tourism & Regional Branding: The Cayman Islands Department of Tourism is lead sponsor of the 2026 Caribbean Media Exchange (CMEx) Leadership Awards in Miami on Dec 6. Health Policy: Public consultation opens on a proposed National Cancer Registry, targeting better national cancer data for prevention, treatment planning and service delivery. Sustainability & Business Recognition: CCMI named finalists for the inaugural Doug Allan Ocean Sustainability Awards, spotlighting local ocean-positive corporate action. Finance Sector Watch: Bullish released September 2026 monthly metrics for Bitcoin and Ethereum trading activity and volatility. Corporate Governance: Top Wealth received a Nasdaq minimum bid price notice and has until March 31, 2027 to regain compliance.