Business

“Work together!” shouts Bush

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  1. Work permit fee increases in certain categories. Those costing under $1,000 per year – no change. Then a range of increases from 5% for $2,000 permits up to 35% increase on those costing $15,000 per year. This will bring in revenues of $7.8M.  Financial Controllers, Real Estate Brokers, Managing Directors, Accountants and Chief Executive Officers will take the burden of the increases.
  2. Departure tax increase $10 per person
  3. Stamp duty on certain insurance purchases ($1.2M expected revenues)
  4.  Master Hedge Fund Registration increases ($2.3M expected revenue)
  5. Real estate changes 7.5% increase for both Caymanian and Non Caymanian but first time Caymanian buyers will continue to enjoy stamp duty concessions
  6. Fees on commercial boats over 30 ft.
  7. Increases on annual registration fee payable by exempted limited partnership ($9M expected revenue)

Published August 9, 2012

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