Section 3Part 2 — Approved Investments
Approval of investments
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Subject to this section, Cabinet, on the application of any company, may approve the investment of money in a business carried on or proposed to be carried on in the Islands, and which conforms to the following requirements —
its operation is such as is likely to bring direct benefit to the Islands, either in development of the tourist industry, beneficial exploitation of natural resources, development of export trade, increased revenues to the Government, improved provision of internal needs, or otherwise as Cabinet may be satisfied will redound to the public good; and
it undertakes to employ available Caymanian unskilled and skilled labour and clerical and supervisory staff in preference to non-Caymanian unskilled or skilled labour or clerical or supervisory staff with comparable qualifications.
The Cabinet shall not approve an investment under this section unless he is satisfied that, other than the value of land, the amount of money to be invested in the business is not less than ten thousand dollars and that not less than three-fourths thereof is being brought into the Islands from sources outside the Islands for the purpose of the investment.