Miller calls for an end to LCCLs regime

| 12/12/2013

Cayman Islands Business News(CNS Business): With changes in local economic conditions, the member for North Side is calling on the minister with responsibility to review the regime surrounding the Local Company Control Licence, where 100% foreign-owned companies are now allowed to compete with local businesses, making a difficult environment even tougher for Caymanian entrepreneurs. Ezzard Miller has raised concerns that companies are abusing the system and in a short statement in the Legislative Assembly he said he had evidence that a recent grant by the Trade and Business Licensing Board of an LCCL to a company called KN Network Services (Cayman Ltd) in the telecommunications business could prove detrimental to local companies already covering that market. Read more on CNS Business

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