THE CAYMAN ISLANDS
The Cayman Islands are a leading financial centre with an established professional infrastructure. There are over 450 licensed banks and trust companies regulated to the standards of the Basle Convention holding over US$600 billion in deposits and inter bank bookings. Other strengths of the jurisdiction lie in capital markets, asset financing, mutual funds, venture capital, captive insurance (which has a population approaching 500), ship registration and fiduciary services.
The Cayman Islands remain a British Overseas Territory with no desire for independence. Their financial prominence is founded on a common law legal system, modern legislation, a stable political and economic environment with no direct taxation or exchange controls and no restrictions on foreign ownership of land. The development of the Cayman Islands has been aided by their proximity to the United States, infrastructure and efficient communications.
