Cayman Islands Offshore Services

Cayman Islands offshore services are regulated and supervised by the Cayman Islands Monetary Authority (CIMA), which serves as the main agency in cooperation with foreign regulatory authorities,...

Cayman Islands Incorporation

Cayman Islands incorporation is just one of the offshore company services that can be found in the Islands.  Registration of companies is an efficient process that is administered by licensed legal...

Cayman Islands Companies

Cayman Island provides a wide range of Cayman Island companies that can be used for domestic and international trade. Three of these include Exempted Companies, Exempted Limited Duration Companies...

Cayman Islands Offshore Services

Cayman Islands offshore services are regulated and supervised by the Cayman Islands Monetary Authority (CIMA), which serves as the main agency in cooperation with foreign regulatory authorities, regulation and monitoring of compliance areas, monetary management, promoting Cayman Islands offshore services and advising the government.

We have years of experience on professional offshore financial services. An alternative form of asset protection through second citizenships can be resorted to plan retirement and home ownership overseas. Economic citizenship programs, also known as citizenship by investment, is supervised by regulatory agencies and provided only by registered agents who are licensed to process applications for citizenship. In particular, Grenada and St. Kitts offer trusted citizenship by investment programs which enable families and individuals from other countries to own homes and real estate in the tropics.

As a regulator of Cayman Islands offshore services, CIMA is a member of the Association of Supervisors of Banks of the Americas, the Offshore Group of Banking Supervisors and the Association of Supervisors of Banks of the Americas. The Authority also cooperates with the Basel Committee in order to ensure that offshore services Cayman Islands address concerns of cross-border and domestic Cayman Island banking activities, licensee examination and information exchange between supervisors in the Islands and abroad. This proactive approach of the Authority seeks to ensure that Cayman Island banks and offshore services and thoroughly comply with international standards which are important for the reputation of the Cayman Islands offshore services sector and its level of competitiveness as a world player.

Offshore services, particularly Cayman Islands banking sector is very diverse and is one of the most dominant in the world, with the Cayman Islands banking being listed as the world’s fifth largest and the Cayman Islands have the second largest captives market. Regulated offshore services sectors in Cayman Islands include insurance, trusts, securities, cooperative and building societies, money services business, corporate services and banking. Cayman Islands banking, for example is under the administration of the Banking Supervision Division which is a department of CIMA and has the duty of processing bank license applications and recommends ways in which the licensing process can be improved and made more efficient in light of ever changing offshore banking innovations, compliance and business standards.

Cayman Islands offshore services sector offers three main categories of mutual funds. These are Administered Mutual Funds, Licensed Mutual Funds and Registered Mutual Funds. Each of these funds have different regulatory requirements and can be established various types of Cayman Island offshore entities such as the exempted company, the unit trust, the segregated portfolio company and the exempted limited partnership. For offshore Cayman Island services, there are full administrators who can provide administration services to any number of mutual funds and restricted administrators which are allowed to serve a maximum of ten mutual funds.

Insurance, specifically the captive sector, is a major part of Cayman Islands offshore services. Six different types of licenses are issued in relation to insurance in Cayman Islands. These include Class A Insurer’s Licence, Restricted Class B Insurer’s License, Unrestricted Class B Licence, Insurance Agent’s Licence, Insurance Broker’s License and Insurance Manager’s Licence. Similar regulations apply for Cayman Island banks.

Cayman Islands offshore service providers must be licensed. With large numbers of international law, tax and financial firms setting up offices and branches in Cayman Islands, the Islands benefit from a diverse set of professionals with a working knowledge of markets around the world. For overseas customers this creates a sense of comfort, as the offshore services in Cayman Islands are also provided by firms that to them are home grown. An example of this would be the Swiss banks and other leading financial and investment firms which have operations in Cayman Islands banking center. Offshore services in Cayman Islands benefit from this in that they continue to be innovative and the interest of investors in Cayman Islands as well as the local public through regulations.

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