Cayman Islands

Grand Cayman, the largest of the Cayman Islands, is the firth largest banking centre in the World. There are many advantages to conducting business in the Cayman Islands including the absence of exchange controls that allow for the free transfer of funds in and out of the Cayman Islands with freedom to open and maintain accounts in any currency and no direct taxation. Accordingly, the Cayman Islands is the jurisdiction of choice for many types of financial offshore transactions.

The Cayman Islands offer easy and economical access to the Eurodollar and other international capital markets and provide a modern and sophisticated supporting infrastructure. Further, the Confidential Relationship (Preservation) Law of the Cayman Islands makes it a criminal offence for a professional person with confidential information to divulge same without the principal’s consent, save in very limited circumstances prescribed by law.

The Cayman Islands’ legal system is based on that of England and Wales, and all statutes regulating business affairs are based essentially on English Law. The final court of appeal of the Cayman Islands is the Supreme Court in London. While the Cayman Islands remain an “Overseas Territory” of the United Kingdom they are governed on a local basis almost independently and their elected representatives largely determine the politics, legislation, economy and future of the country.

There are now approximately 400 banks and trust companies, approximately 800 captive insurance companies (single parent or association owned), approximately 10,000 regulated mutual funds, many that do not require regulation due to their sophisticated investor characteristics. There are over 2,000 licensed and exempted entities providing investment and securities services under the Securities Investment Business Law of the Cayman Islands and over 45,000 registered companies in the Cayman Islands. The Cayman Islands Stock Exchange went into operation in July of 1997 and there are now over 750 listed mutual funds (excluding debt listings).

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The Bahamas - Team