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.
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COUNTRY:
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CAYMAN ISLANDS
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Region:
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Caribbean
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Currency:
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Cayman Islands dollar (KYD) (CI$)
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Languages:
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English
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Time Zone:
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UTC -5
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Phone Code:
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+1345
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Communications:
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Good
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Formation Cost:
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2900 - 4500 USD$
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Formation Time:
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2 - 3 days
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Maintenance cost:
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1400 - 2200 USD$
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Suitable for:
- Wealth Management,
- Treasury Management,
- Banking,
- Fund Management,
- Shipping,
- Aviation,
- Yachting,
- Trading Financial,
- Intellectual Property/Licensing,
- Holding Companies
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, 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
