as the Group of International Financial Centre Supervisors (GIFCS), Caribbean Group of Banking Supervisors (CGBS); International Association of Insurance Supervisors (IAIS); and International Organisation of Securities Commissions (IOSCO); among others. Leading the way in tax transparency and cross border cooperation The Cayman Islands is a strong partner in combatting global financial crime. Leading the way for tax transparency and information exchange, the Cayman Islands has consistently maintained its practices to meet robust, balanced and globally implemented standards for regulation and cross border cooperation. The Cayman Islands government, its regulator, the Cayman Islands Monetary Authority and private industry, have worked continuously with overseas governments and international authorities to ensure Cayman is trusted as a well regulated, cooperative and transparent jurisdiction.
The Cayman Islands cooperates with many cross border initiatives to assist in the fight against tax evasion. These include being a signatory to the European Savings Directive, US and UK FATCA and the OECD’s Common Reporting Standards.
Our innovative approach to developing products and services that benefit the global market We have a strong innovative approach that sees client feedback turned swiftly into legislative changes and new products, such as the recent Limited Liability Companies legislation that The commitment of Cayman will create a multitude of options at Islands government and the the fund level for holding investments, Cayman Islands Monetary Authority among other uses. (CIMA) As an industry, the relationship between Neutral Platform Cayman Finance, the Cayman Islands The Cayman Islands enables parties from government and CIMA, the country’s around the world who are domiciled in financial services regulator, has been a countries that may have differing laws, hallmark of the jurisdiction’s success regulations, tax structures and customs as it has allowed us to respond to benefit from doing business with each swiftly to changes in the marketplace. other using Cayman as an efficient and Working together, Cayman Finance, effective global financial hub. the Cayman Islands government and CIMA provide insight into Cayman’s There are no direct taxes (income, current endeavors, as well as into the property or corporate) in the Cayman future services that will increase our Islands. This has been the case for the commercial appeal and our reputation country’s entire modern history. The as a well regulated jurisdiction. absence of any direct taxes provides a tax neutral domicile, which is an added benefit to many clients. Clients in turn are responsible for complying with their tax regimes in their home country in accordance with the respective rules.
Stability The Cayman Islands is a British overseas territory that has maintained a very stable economic and political climate throughout its history. The country has its own democratically elected Parliament, which has consistently maintained responsibility for domestic affairs including fiscal matters. Cayman also operates its own judicial system, including a separate division within the Grand Court to deal with commercial disputes, which is based on English common law principles. The Cayman Islands Government prudently manages its affairs and operates with a budget surplus.
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CAYMAN ISLANDS: THE PREMIER GLOBAL FINANCIAL HUB