There's been a sharp rise in the number of foreign workers in the Cayman Islands. This according to a recent report from Justin Harper of Reuters. Despite increased taxes, the number of foreign workers in the island paradise has gone from 19,927 at the end of 2011 to nearly 21,000 by December 2012. The increase is largely the result of less stringent immigration laws that now … [Read more...]
International Trade Skyrockets in Miami Customs District.
The venerable Mimi Whitefield of the Miami Herald is reporting that 2012 was a record-breaking year for international trade in the Miami Customs District with $124.73 billion worth of trade being exchanged. According to Whitefield, Miami district exports increased to a record $73.3 billion, up nearly 6 percent from the previous year, and imports totaled a record $51.4 … [Read more...]
SEC Takes Immediate Action in Freezing OffShore Accounts Tied to Heinz Insider-Trading.
Yesterday it was announced that Warren Buffet’s Berkshire Hathaway partnered with Brazilian equity fund 3G to purchase iconic American ketchup maker Heinz in a blockbuster $23 Billion deal. Just a day after the deal, the SEC obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7 million from … [Read more...]
Investment Visas in Brazil. The Basics.
There seems to be no end in sight for investment opportunities in Brazil. Here in Miami, where my practice is based, I've seen an incredible amount of interest from investors wanting to get their hands on Brazilian Visas. There's a great post over at the Brazilian Law Blog that does a great job of going over the types of visas available for those looking to invest there. In … [Read more...]
Why Your 3PL Contract Should Match Your RFP.
I work with a variety of business clients that have their own logistics departments to coordinate their international shipping operations. For many companies, however, having an in-house logistics department can really put a dent in a company's bottom line. That's why third party logistics providers or 3PLs have become so valuable. In selecting a 3PL, a company (the … [Read more...]
Singapore Ranks as Best Country for Growing a Business. U.S. Ranks 10th.
Grant Thornton management consulting recently released its Global Dynamism Index. The popular index ranks countries based on 22 indicators. At the top of the list is Singapore. The United States came in as the 10th best country in the world for growing a business. While United States ranked ahead of France, China and Japan it fell behind South Korea, Germany and Israel, … [Read more...]
Business Ethics in Emerging Markets: Global Standards, Local Strategies.
A few months ago, I was asked to spend the morning speaking to several classes at a local high school on the topic of ethics in recognition of National Government Ethics Day. It was a great experience. While I was impressed with the depth and scope of the students' questions, one question stood out for me. The questions was: "do people in different countries have different … [Read more...]
Boeing's Dreamliner is a Dream for International Litigators.
There's been a lot of press the past few days over the worldwide grounding of Boeing's Dreamliner aircraft due to faulty batteries. As reported in the Wall Street Journal article, All Boeing Dreamliners Are Grounded World-Wide, the grounding of the Dreamliner marks the first time in four decades that U.S. airlines were forced to ground an airliner. U.S. airlines were joined … [Read more...]
2013 is Going to be a Huge Year for U.S. Trade Policy. Here's Why.
Back in November it was widely speculated that Obama’s second term would be punctuated by an aggressive pursuit of free trade initiatives. In recent weeks, it’s become clear that free trade will indeed take center stage in Obama's second term. I mention this because I just read an excellent piece over at the Council for Foreign Relations website, Opportunity Knocks for Obama … [Read more...]
Key Principles for International Law Firms to Follow.
The American Lawyer just did a great piece on how the most successful international law firms operate. The article, The 7 Key Steps International Law Firms Should Take in 2013 to Ensure Themselves a Bright Future, lists a number of principles that a modern international firm should follow for success in the age of globalization. While the article is directed at firms with … [Read more...]