The Cayman Islands is an Overseas Territory of the United Kingdom recognized as the world’s sixth largest international banking centre and one of the top 10 international financial centres in the world, with over 40 of the top 50 banks holding licenses here.

Regulated banks in the Cayman Islands represent some 45 countries from around the world. This global representation proves that the Cayman Islands is widely acknowledged as one of the leading offshore financial centres. Where better to trust your wealth and savings as you plan for your future and for generations to come? While the financial services chapter of the Cayman Islands dates back 40 years, the seeds of it were sown as early as the 1700s. Two important legacies of history remain from that era – English common law and tax neutrality (The Cayman Islands has never had a system of direct taxation and instead employs an indirect, consumption-based taxation system). The Cayman Islands has always been an open, free market economy, and from the 1960s onwards, successfully invested its “historic capital” to the benefit of the financial services sector.

The Cayman Islands are located in the northwest of the Caribbean Sea, about 400 miles (650 km) south of Miami, 180 miles (300 km) south of Cuba, and 195 miles (315 km) northwest of Jamaica.

The Cayman Islands have the highest Sovereign Credit Rating “Aa3(AA-)” from Moody’s1. It is classified by A.M. Best as a CRT-2 country meaning it has a low Economic, Political and Financial Stability Risk2. The Cayman Islands has a stable government, sophisticated infrastructure and a strong economy based on international banking and tourism.

1. Source: Moody’s Investors Service, May 2018.
2. Source: A.M. Best Country Risk Report, August 2018.

The Cayman Islands Government has constructed a regulatory regime that is highly favorable to offshore operations with no taxation in the Cayman Islands other than stamp duty and import duties.

The Cayman Islands maintains a sophisticated financial regulatory regime under the control of the Cayman Islands Monetary Authority (CIMA). The Cayman Islands financial services industry has a strong compliance culture. The industry’s commitment to creating its self-imposed code of conduct on anti-money laundering issues is a testament to this culture. The industry is well-organized via a number of associations that maintain a polished financial sector and serve as key liaison points with the Government on pertinent matters, whether of a commercial or regulatory nature.