Opalesque – The government of the Cayman Islands on Friday announced a new taxation system for certain “master fund” hedge funds that are registered in the country, and at the same time, vowed to regulate the sector through the Cayman Islands Monetary Authority.
In his long awaited budget speech, Prime Minister McKeeva Bush told members of Cayman’s Legislative Assembly that his government would introduce only one revenue measure for this fiscal year, “which will be on the hedge fund industry – and no external borrowing.”
