Banking

Cayman Islands Banking

Banking in the Cayman Islands

Browse the topics below for information on the financial services industry in the Cayman Islands. As one of the leading offshore financial centers in the world, Cayman's banking professionals and the Government work hard to maintain an upstanding reputation for the essential business conducted here. Learn more about conducting business in the Cayman Islands through the following articles.

Cayman Bank Accounts

With no direct taxation, the Cayman Islands are a thriving offshore banking and finance centre. The Cayman Islands financial services industry has developed along a path similar to that in other offshore centers, on the strength of private banking and company registration. While meeting the needs of high net worth individuals is still an important aspect of the industry, recently the focus has moved very much towards institutional business.

Offshore Financial Services

Based on a tradition of innovation and excellence, the Cayman Islands are regarded as one of the world's premier international financial centres. Cayman's clientele have access to a wide array of services including banking, trust companies, mutual funds, company management, structured financing, shipping registration, accounting, insurance, and securities listings on the stock exchange.

The Cayman Islands - A Premiere Offshore Banking Center

For almost four decades the Cayman Islands has enjoyed unprecedented economic growth as a direct result of its financial services industry. While the tourist sector continues to play a very important part in the domestic economy, Cayman's real wealth has been generated by its offshore services and tax neutral status.

Cayman's Tax Free Status

Currently there are people from some 125 different countries who have chosen to make the Cayman Islands their home. Be it for a few months or a lifetime, there are many positive reasons to choose Cayman to live, work and play here. As Cayman is one of the world's leading Offshore Financial Services Centres (OFC), the jurisdiction offers numerous opportunities for investment, career advancement and a high quality life.

Cayman Islands Companies: Formation & Registration

At the beginning of 2011 there were some 90,000 companies registered in the Cayman Islands. You would be forgiven for thinking that the Caymanian people, with a population of around only 20,000 citizens, must indeed be an entrepreneurial bunch to reach such a figure. Well, while they certainly are, the fact is that Caymanians own only about a third of the companies registered in this British Overseas Territory. The remainder are exempted companies, or what are commonly known as offshore firms. Almost 68,000 of the companies listed with Cayman Islands Registry of Companies are ones which do business worldwide but not in the Cayman Islands, the country of incorporation.