Ask any of the major international banks, law or accounting firms on-island why they chose to invest in Cayman and the response will be unanimous. They set up business in our jurisdiction because it offers many competitive advantages that make it an attractive place to do business.
A Supportive Business Environment
Our stable economic and political climate, absence of exchange controls, modern infrastructure and state of the art communication systems put us on par with the best in the world. When you add a lucrative banking environment, sound legal framework and responsive Government to the equation many of our current investors tell us the offer is just too good to pass up.
A major factor that routinely sets us apart is the absence of any direct taxation. The government does not impose personal or corporation income taxes and there are no taxes on profits and gains from investments. There are no property taxes or controls on foreign ownership of property either.
Location & Accessibility
The Cayman Islands is situated in the Caribbean and are made up of 3 islands – Grand Cayman, Cayman Brac, and Little Cayman. Miami is only one hour away by plane and eight major international airlines make more than 55 weekly flights into Cayman direct from the United States, Canada and England.
Caymanians and residents combine to form a highly educated workforce, with over 82% of persons having completed at least a high school degree, and 26% having completed a post-secondary degree from a local or overseas institution. English is the official language but there are over 100 nationalities residing here which also make it one of the most cosmopolitan work environments in the region.
High Standard of Living
The Cayman Islands enjoy one of the highest standards of living in the word. There is relatively low inflation, unemployment is under 4% and the fundamental strength of the economy is evident.
Last Updated: 2009-07-28
Info : Courtesy of the DCI ( Dept of Commerce & Investment)
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