George Town, Grand Cayman – The Premier
Hon. Alden McLaughlin will travel to London next week along with Roy
Tatum, Head of the Office of the Premier.

The Premier will continue talks with the United
Kingdom Government on issues affecting the Cayman Islands including
meeting with Ben Wallace, Minister of State from the Home Office and
Ben Merrick, Director of the Overseas Territories Department of the
FCO. Matters on the agenda include the ongoing constitutional reform
discussions started last year, the UK Government’s response to the
recent Foreign Affairs Committee report on the Overseas Territories
as well as public registers of beneficial ownership.

The position of the Cayman Islands Government is
that the Islands have always complied with global standards of
financial regulation and should public registers become a global
standard then the Cayman Islands will be on board. In the interim,
we are of the view that our current system for handling beneficial
ownership, whilst not public, allows timely and ready access to UK
and international law enforcement and tax agencies.

Whilst in London, the Premier will also host a
dinner with cross party Parliamentarians as part of the Governments
ongoing political engagement programme for the Cayman Islands.

“Continued engagement with MPs and Peers is
essential for the Cayman Islands to build and maintain relationships
and for them to hear directly what’s happening in our islands.”
Premier McLaughlin commented.

The Premier will then travel on to Monaco with
Eric Bush, Chief Officer of the Ministry of International Trade,
Investment, Aviation and Maritime Affairs (MITIAMA) and Joel Walton,
CEO of the Maritime Authority of the Cayman Islands (MACI) as well as
Roy Tatum, Head of the Office of the Premier for a series of meetings
with key stakeholders in the Maritime and Super Yacht sector. This
is part of Cayman’s ongoing efforts to maintain the significant
market share for our shipping registry.

Premier Hon. Alden McLaughlin said “the Cayman
Islands Shipping Registry is known globally as a premium maritime
flag state and is home to most of the biggest yachts in the world.
Indeed, the Registry has been rated as one of the best in the world
in the International Chamber of Shipping (ICS) Flag State Performance
Table for 2018/19 for the 8th year running. The meetings in Monaco
are a continuation of efforts started by me last year and as part of
our new focus on not only maintaining but growing the Cayman Islands
Shipping Register under the newly created Ministry of International
Trade, Investment, Aviation and Maritime Affairs.”

MACI has had a presence in Monaco for over two
decades, where the majority of super yachts docked in Monaco harbour
are flying the red ensign of the Cayman Islands. “Monaco, with its
wealth of financial services and international high net worth
individuals, is a natural fit for the Cayman Islands and its shipping
Registry,” explains Mr. Joel Walton, CEO of Cayman Maritime “it’s
an extremely important market for us.”

While in Monaco the Premier is expected to meet
with the first Minister and will also participate in the 8th annual
St Tropez to Monaco Charity Bike ride.

This is a great opportunity to continue promoting
the Cayman Islands as the Premier will be riding with Prince Albert
of Monaco as well as other high-profile riders.

Eric Bush, Chief Officer of the MITIAMA said “Meetings and participation in events such as this help build a partnership between the Cayman Islands and Monaco. They also provide an opportunity for us not only to support causes with a synergy to the Cayman Islands but explore opportunities for further cooperation and collaboration.”

The 8th Annual St Tropez to Monaco Charity Bike
ride in aid of the Princesses’ Charlene of Monaco Foundation. More
information http://www.fondationprincessecharlene.mc/en