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Cayman Islands

Cayman Islands Flag

Country: Cayman Islands
Region: Caribbean
Currency: Cayman Islands dollar (KYD) (CI$)
Languages: English
Time Zone: UTC -5

Phone Code: +1345

Communications: Good

Formation Cost: 2900 - 4500 USD$
Formation Time: 2 - 3 days
Maintenance cost: 1400 - 2200 USD$

Executive Summary: Cayman is the largest offshore banking centre in the world, and the second largest offshore captive insurance base after Bermuda. There are no direct or indirect taxes; government revenue comes from customs duties, stamp duty and annual fees levied on corporations. A recent attempt by the administration to impose a payroll tax was withdrawn in favour of a substantial increase in work permit fees. It is thus difficult and expensive to employ expats. The economy is highly dependent on tourism and financial services. Since the opening of the Cayman Islands Stock Exchange in 1997, mutual funds have become a growing sector, and the islands have emerged as a predominant registration base for hedge funds, CDOs and other securitization instruments. Although Cayman has an established commercial infrastructure and a flexible approach to regulation, it is an expensive jurisdiction.

Suitable for: Wealth Management, Treasury Management, Banking, Fund Management, Shipping, Aviation, Yachting, Trading Financial, Intellectual Property/Licensing, Holding Companies
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

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Property Ownership:

 
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Vehicle Types: Limited companies, public limited companies, exempt companies, foreign companies, trusts, limited partnerships and exempted limited partnerships

Capital primary business districts: George Town

Good Relationships: Bahamas, Barbados, Bermuda, Belize, Canada, Dominica, India, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Very Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 0%, PIT 0%, VAT 0%

Treaty Jurisdictions: United Kingdom

TIEA Jurisdictions: Argentina, Aruba, Australia, Belgium, Brazil, Canada, China, Curacao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland, Italy, Japan, Malta, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Qatar, Seychelles, Sint Maarten, South Africa, Sweden, United Kingdom, United States

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