Cayman Promotes Tech Tax-Free Zone In Las Vegas
by Jason Gorringe, Lowtax.net, London
14 October, 2014
The Premier of the Cayman Islands, Alden McLaughlin, sought to drum up business for the territory's tax-free zone during the recent three-day technology conference IMPACT 14 in Las Vegas, USA.
A Cayman delegation sought to increase awareness among leading technology companies about the benefits of doing business from the Cayman Enterprise City (CEC), which was launched in 2011. Cayman representations reached out to company representatives from Oracle, Microsoft, Google, Cisco, and Adobe, among others.
McLaughlin spoke to the conference about Cayman's sophisticated IT infrastructure and the tax and non-tax perks offered by the CEC tax-free zone.
"This trip gave us another opportunity to tell potential investors that we have a stable economic and political climate, tax neutrality, sound and reputable British legal framework, proximity to the United States, no foreign exchange controls, and a highly skilled business support environment consisting of world class accountants, law firms, and banks," McLaughlin said on his return.
The CEC offers a number of incentives to companies located in the zone, including:
- No corporate tax, capital gains tax, sales tax, income or payroll tax, or import duties;
- Three- to four-day fast-tracked company formation;
- Five-year work or residence visas granted for staff in five days;
- Intellectual property held offshore;
- A strategic location, on Eastern Time; and
- A pro-business environment with sophisticated infrastructure.
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