According to a Financial Times (FT) report, this would be the Cayman Islands’ first base in Asia, and its officials would help investors to set up and manage funds based in the Caribbean territory.
The Cayman Islands is challenging attempts by Singapore and Hong Kong to rival the tax haven as the preferred destinations for Asia’s hedge funds and high net worth individuals to park their assets.
This month, Cayman Islands financial services minister André Ebanks visited Singapore and Hong Kong to advance plans to set up an office in one of the two Asian financial centres.
