Definitions

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In this Law —

means any tangible, intangible, moveable or immovable property whatsoever, irrespective of its use or intended use, including property not used for commercial purposes;

means the Special Economic Zone Authority established under section 3;

has the meaning given in regulation 2(1) of the Anti-Money Laundering Regulations (2023 Revision);

includes any profession, trade, activity or calling of any kind carried on for profit or otherwise;

has the meaning assigned to that expression under section 2 of the Immigration (Transition) Act (2022 Revision) and the expression “non-Caymanian” shall be construed accordingly;

means the final certificate issued pursuant to regulations made under the Development and Planning Act (2021 Revision), authorising the occupation and use of a building on the completion of a building operation;

means the Chairperson of the Authority appointed under section 3(2)(a);

has the meaning assigned to that expression under section 2 of the Land Surveyors Act (1996 Revision);

has the meaning given in section 2(1) of the Proceeds of Crime Act (2020 Revision);

means tangible assets that are consumed in the ordinary course of business, or in the production of goods or services excluding, in particular, capital assets;

means a person who has —

the ownership, either directly or indirectly, of ten per cent or more of the issued share capital in a special economic zone enterprise;

the ability to, either directly or indirectly, exercise or control the exercise of ten per cent or more of the total voting rights in a special economic zone enterprise;

the power to appoint or remove directors of the special economic zone enterprise;

the office of the most senior officer responsible for the operations of the special economic zone enterprise; or

the authority to issue instructions or directions which the directors of the special economic zone enterprise either directly or indirectly are legally required to act;

means the Deputy Chairperson of the Authority appointed under section 3(2)(b);

means a person declared as such by Order pursuant to section 12;

means the developer, its subsidiaries and from time to time for the duration of their appointment as such, the developer’s, and its subsidiaries’, sub-contractors;

means the Director in the department of Government known as the Department of Commerce and Investment;

means the officer appointed under section 4 of the Customs and Border Control Act (2022 Revision) to be in charge of Customs and Border Control and includes any officer acting for the Director;

has the meaning assigned to that expression under section 2 of the Labour Act (2021 Revision);

means the person appointed as such under section 4 of the Development and Planning Act (2021 Revision);

means the person appointed under section 6 of the Immigration (Transition) Act (2022 Revision) in control of the Workforce, Opportunities and Residency Cayman Department and includes any person acting for the Director;

has the meaning assigned to that expression under section 2 of the Companies Act (2023 Revision);

has the meaning assigned to that expression under section 2(1) of the Exempted Limited Partnership Act (2021 Revision);

means —

providing funds and economic resources for; or

entering into or becoming concerned in, an arrangement that a person knows or suspects facilitates, by whatever means, the acquisition, retention, use or control of funds and economic resources to fund the unauthorised development or production or the facilitation of the development or production of nuclear, radiological, biological or chemical weapons or systems for their delivery;

means the regulations made pursuant to section 30;

includes beneficial owner;

means such parcel or parcels of land, areas or locations in the Islands, declared as such by the Cabinet in accordance with section 10(1);

means any type of business authorised to be carried on in a special economic zone pursuant to section 10(2)(d);

means the holder of a valid trade certificate issued under section 17;

has the meaning given in section 2(1) of the Proceeds of Crime Act (2020 Revision);

means a trade certificate issued under section 17;

means a public officer who is appointed as a trade officer in the department of Government known as the Department of Commerce and Investment;

means a warrant to enter and search premises;

means the department of the Government known as the Workforce, Opportunities and Residence Cayman Office continued to be established under section 3 of the Immigration (Transition) Act (2022 Revision);

has the meaning assigned to that expression under section 2 of the Immigration (Transition) Act (2022 Revision); and

means the fees payable on application for and issuance of a work permit under the Immigration (Transition) Act (2022 Revision).

Referenced By

Section 2 — Interpretation
Special Economic Zones Act (2017 Revision) - section 2 special economic zone definitions

Special Economic Zones Act

7 Parts