Tuesday 20 November, 2018

Cayman looks to attract Chinese investors

Cayman Finance participated in two investment forums in Hong Kong late last month, in which the entity reaffirmed its commitment to facilitating growth and sought to attract new investors to the island's signature financial service product. 

CEO Jude Scott who had the leading international business lawyers and investment specialists in three major Asian cities as his audience used the platforms to raise awareness about the Cayman Islands financial services industry in facilitating the global flow of investment capital.

According to Scott, the events, which he attended at the invitation of Cayman Finance member firm Maples and Calder, provided the opportunity to raise Cayman’s profile and ensure there is a wider understanding of how, as a jurisdiction, Cayman can support Chinese investment flows.

"China, and in fact the wider Asia region, is a major player in global investment in infrastructure projects around the world,” said Scott.

“Cayman is an excellent extender of value for businesses in these markets, pooling capital from around the world for investment in assets and projects in developed and developing countries,” added Scott.

Speaking to approximately 400 major decision makers within the investment community, Scott highlighted how the Cayman Islands operates as a neutral and efficient hub, connecting capital and financing around the world.

“Being able to participate in these events allowed me to convey the success of the Cayman Islands as a premier global financial hub and promote greater cooperation and understanding between Chinese and Cayman businesses by ensuring that our world class regulatory standards, especially KYC/AML and international cooperation, are understood by the businesses and regulatory bodies there,” he added.

Anthony Webster, a partner at Maples and Calder (Hong King) LLP, noted it was important to have Scott present given the vast benefits for businesses in both jurisdictions that can occur from working together.

“The Cayman Islands plays an important role in both inbound and outbound investment for the region. Chinese state-owned enterprises and private entities use these structures for outbound investments to provide investment capital,” said Webster.

“Also, in addition to the Cayman Islands being home to world-class service providers, it has a very high quality network of lawyers and other service providers, who operate in Asian time-zones. Success in the Asia funds market can be attributed to the fact that Cayman Islands corporates and partnerships are both widely accepted and familiar to investment managers and financial institutions,” he added.

Webster further said that it was great having Cayman Finance demonstrate its support by having its CEO travel to China to ensure face-to-face engagement with key players in the market. “We welcomed Jude's attendance at our events in the capacity of our guest speaker and appreciated his delivery of the Cayman Islands’ message with clarity.”

While in Asia, Scott was also met with several private equity and venture capital industry associations and had the opportunity to converse at a breakfast roundtable with other stakeholders where he said that he was able to get a better understanding of the issues in the Asian markets and how Cayman Finance could be better poised to respond to the needs of businesses there.

“It is always important to stay connected with those with whom we conduct business and ensure that the Cayman Islands remains the jurisdiction of choice,” Scott said.

“I was pleased to be able to accept the invitation from a valued member firm to add value to their events and make connections with their clients," he added. 

Scott noted that Cayman Finance will continue to engage with Chinese businesses and private equity and venture capital associations, and rely heavily on the work of the Cayman Finance China Working Group, which is continually monitoring developments in that market and ensuring Cayman Finance member firms benefit from the relationships developed.

Scott was the featured speaker at Maples Insights China Offshore Forums in Shanghai and Beijing and the Maples Insights Investment Funds Forum in Hong Kong.