There is much talk about The Cayman Islands as one of the largest financial centres. This British overseas territory consists of just three small Islands and has a reputation that belies its size and not just in offshore circles as it trails behind highly regarding financial centres such as London, New York, Hong Kong and Tokyo. So what makes this territory so special?
The Cayman Islands has strong privacy protection, is a low risk country to invest in which combined with its vast experience in providing financial services makes it a top destination for global financial institutions. This and many other factors have led to around fifty of the World’s largest banks being registered there which combined with the vast array of leading legal and accounting firms makes doing business in The Caymans both business friendly and at a high competitive standard.
There is no direct tax therefore no double tax is charged and investors are only taxed on their profits in their country of residence.
In part due to these reasons it is estimated that more than three quarters of the worlds hedge funds are homed there making it by far the world’s leading domicile for hedge funds. It is also the second leading domicile for captive insurance companies.
If you would like to learn more about The Cayman Islands or any other leading jurisdiction please do not hesitate to contact us.