The Cayman Islands are well known as an international financial centre due primarily to: the absence of exchange controls, which allows the free transfer of funds in and out of the country once requirements are met; the lack of reserve asset requirements, and income, corporation, capital gains, withholding, gift, property and inheritance taxes; and the high quality expertise and skill of Cayman’s international workforce. The Islands offer easy and economical access to the Euro and international capital markets and provide a modern and sophisticated supporting infrastructure.
- British overseas territory with a population of over 50,000 residents
- About 40-45 per cent of GDP generated by the Banking and Finance sector, for which the Cayman Islands have a tradition of excellence
- Legal system is based on that of England and Wales
- Local court structure which includes the Grand Court and the Court of Appeal; Privy Council in London as final Court of Appeal with the European Convention on Human Rights extended to the Islands
- Home to approximately 159 banks, 268 trust companies, 740 captive insurance companies and 10,586 registered mutual funds or hedge funds