Doing Business In… Handbook 2007: Q&A

The Cayman Islands are administered as a British Overseas Territory, but have a significant degree of internal self-government. The Cayman Islands have a combined common law and statute based legal system. English common law is of persuasive authority.

The Cayman Islands distinguishes between doing business within the Islands and doing business outside the Islands. The Local Companies Control Law 1999 (LCCL) governs foreign ownership of businesses within the Islands, requiring 60% Caymanian ownership and control, but permitting the grant of twelve-year licences to investors who are unsuccessful in attracting local participation. There are no restrictions on foreign ownership of land.