Until recently, a business could only be carried on in the local
market place in the Cayman Islands through:
- an individual (i.e. a Caymanian or holder of a Residency
Certificate conferring such a right); or
- a company licenced to carry on business or trade in the Cayman
Islands.
On September 28, 2011, a new law was introduced which allows
exempted companies or exempted limited partnerships to carry on a
"special economic zone business" in a "special
economic zone" in the Cayman Islands if they are registered
with the Registrar of Companies as a Special Economic Zone Company
or Partnership.
Exempted companies or exempted limited partnerships are entities
incorporated in the Cayman Islands which are not entitled to engage
in trade with any person except in furtherance of business carried
on outside the Islands. Under the Special Economic Zones Law, 2011
(the "SEZ Law"), this remains but is distinguished in
that, the business, though it has a physical presence
