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Cayman Islands: Country and Foreign Investment

Business Environment

In terms of business and communications infrastructure, the Cayman Islands offer the highest international standards. The business environment is particularly well-attuned to the finance sector as a result of Cayman's long-term policy of promoting itself as an international finance centre, accompanied by a well-developed regulatory structure: Cayman complies with all the requirements of the G-7 Financial Action Task Force. There is a good professional infrastructure, but it is not cheap.

Licensing of international 'offshore' business is dealt with under Offshore Legal and Tax Regimes and Offshore Business Sectors. Trade and Business Licences are administered through the Trade and Business Licensing Board of the Immigration Department as specified under the Trade and Business Licensing Law (2003 Revision), which requires that persons (individuals or companies) engaged in local business must have licenses. These licenses are issued only to individuals with Caymanian status or to companies beneficially owned or controlled by them. Foreign-owned or controlled companies doing business in the Cayman Islands must obtain a licence under the Local Companies (Control) Law (1999 Revision). A company is considered foreign owned if less than 60% of the equity is owned by Caymanians or if less than 60% of the board of directors is Caymanian.

 

 

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