Republic Offshore Banking

Republic Bank Cayman to be merged with Cayman National Corporation

Cayman National Corporation Ltd. ((CSX: CNC) KY) (CNC) has announced that, subject to all regulatory approvals, Cayman National Bank Ltd. (CNB) will acquire by way of merger, the banking operations of Republic Bank (Cayman) Limited (RBKY). In addition, the securities operations of RBKY will also be merged into the operations of Cayman National Securities Ltd. (“CNS”). CNB and CNS will be the remaining entities following the mergers.

CNB, CNS, and RBKY are all indirectly owned by Republic Financial Holdings Limited (RFHL). The merger of these entities rationalizes operations in the Cayman Islands and creates efficiencies, with no loss of service to clients or displacement of staff. All Caymanians at RBKY will continue to be employed within the Cayman National Group following the completion of the mergers.

According to Nigel Baptiste, President and Chief Executive Officer of Republic Financial Holdings Limited, “The merger of Republic Bank (Cayman) Limited into the Cayman National Corporation Group, brings the RFHL Group one step closer to streamlining our operations in the Cayman Islands. This move will enable the RFHL Group to enhance the experience of the existing clients of Republic Bank (Cayman) Limited by providing access to a wider array of products and services, and eliminating some of the duplication that currently exists across both entities.”

Stuart Dack, CEO of CNC, said, “We believe this transaction will add great value to the Cayman National Corporation Group and look forward to welcoming both the RBKY clients and staff of RBKY.”

RBKY will communicate further information about the proposed transition directly to its clients in the coming weeks. Subject to regulatory approvals, once the merger is completed an announcement will be provided.

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Banking in the Cayman Islands

The Cayman Islands is one of the world's leading financial centres and provides a tax-free haven for serious investors and depositors. It is attractive because of its strict Confidential Relationships (Preservation) Laws which guarantee banking privacy. Its tax structure does not impose any direct taxes such as personal income, corporate or withholding taxes or estate duties. Although there are approximately 100 Banks registered in the Cayman Islands, Republic Bank (Cayman) Limited, which was established in 1992, is the first indigenous bank of the English-speaking Caribbean to establish an offshore facility there and to offer the benefits of tax-free banking and trust services to citizens of Trinidad and Tobago.

Corporate Services
You can open accounts in US dollars or other major currencies at highly competitive rates.

Corporate Services include:
  • certificates of deposits in major currencies
  • current accounts in major currencies
  • stand-by letters of credit
  • loan facilities
  • investment trust certificates
  • incorporation/management of companies
  • portfolio management
  • accounting services

There are several benefits of using the various facilities offered by Republic Bank (Cayman) Ltd. These include:

  • elimination of the cost of exchange conversions in buying and selling foreign currency
  • immediate access to funds
  • protection against adverse fluctuations in exchange rates
  • full confidentiality
  • financial planning to avoid unnecessary taxation and testamentary expenses
Representative Office

To ensure that you get access and the highest quality of service, we have established a representative office in Trinidad and Tobago.

  • 59 Independence Square,
    Port of Spain,
    West Indies
    Telephone (868) 627-2952
    Fax (868) 627-2951

Principal Officers of our Representative Office
  • Country Manager
    Ravi Mykoo CFA, BSc. Economics and Management (Hons)

  • Relationship Manager - Private Banking, Cayman Support Unit
    Beverly Ann-George (Ag.)

Principal Office
P O Box 2004,
3rd Floor,
Citrus Grove,
106 Goring Avenue,
George Town,
Grand Cayman K1-1104,
Cayman Islands

Principal Officer

Country Manager
Ravi Mykoo CFA, BSc. Economics and Management (Hons)

Visit a branch near you
Visit one of our branches today to find out more about our Offshore Banking and Trust Services. To view a list of our branches nationwide, click here.

What you will need
Before visiting our branches, ensure you have the following documents:
  • two (2) references- one from your present bankers and one from an accountant or attorney
  • suitably notarised/ certified copies of one (1) form of identification showing the picture, nationality and signature of the account holder
  • normal bank mandates which should also be notarised/ certified
  • advice regarding the source of funds used to open the account
  • copy of any utility bill or statement which will confirm your address

Simply complete and submit the Offshore Banking Application Form and one of our representatives will contact you to discuss your needs.

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