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...

Offshore Cayman Island

Offshore Cayman Island was sighted in 1503 by Christopher Columbus on his fourth voyage to the Caribbean. Offshore Cayman Island was named Las Tortugas by the Spanish settlers because of the considerable number of sea turtles that were found on the Island. The name ‘Cayman’ became associated with the Island with the arrival of Francis Drake who in1586 referred to the Island as ‘Cayman’ as a result of the alligator like reptile that inhabited the Island. Offshore Cayman Island is located south of Miami and Cuba, with the largest of the Island being the Grand Cayman.

For help with other offshore formation services feel free to send in questions on how to reduce tax liability and optimize asset protection with offshore trusts and foundations as offshore tax planning tools and strategies. Second citizenship is a service provided through licensed agents based in St. Kitts and Nevis and in Dominica. The worth of a second passport cannot be measured in financial terms given the possibilities for a second home(Dominica citizenship offers real estate option) , retirement planning and a secure financial future.

Offshore Cayman Island was administered along with Jamaica as a single colony. However, while the Cayman Island remained under British rule Jamaica gained its independence in 1962. Both offshore Cayman and Jamaica became part of British possession by the Treaty of Madrid which was signed in 1670. It is often said that up until the 17th century, offshore Cayman Island were hardly inhabited, but were settled by quite a few pirates, sailors who were shipwrecked, soldiers and refugees.

Cayman Island offshore tax benefits go as far back as 1794, when upon rescuing the shipwrecked crew of 10 British merchant ships, the kind inhabitants of offshore Cayman Island were promised by King George (or so legend has it) to never be taxed as a result of their kindness towards the shipwrecked crews which included HMS Convert.

The population of offshore Cayman Island is composed of over 100 different nationalities, who account for the Island population of about 55,700 to include natives which represent about half the total number of persons that reside in the Island. George Town is the capital of offshore Cayman Island and is situated on Grand Cayman. Offshore Cayman comprises the sister Island of Little Cayman and Cayman Brac, as well as Grand Cayman which is the most populated and developed. George Town, West Bay, Bodden Town, Cayman Brac and Little Cayman, Northern Side and East End are the six districts into which offshore Cayman Island are divided.

Cayman Island offshore sector is said to have made the Island home to more companies than people. The CIA World Factbook lists the GDP per capita of offshore Caymans as the 14th highest globally, placing the standard of living of these offshore Islands as the most advanced in the Caribbean. Offshore Cayman Island use the Cayman Island Dollar (KYD) which is the official currency, issued locally and fixed to the United States dollar at US$1.25 to KYD1.00. Cayman Island banks allow offshore entities to trade free of currency controls.

Cayman Island offshore benefits are derived from the Island’s international financial sector and a tax regime which is regarded as investor friendly in light of the absence of tax on capital gains, income tax and corporate tax. Indirect taxation, however, serves as the main form of generating revenue by the government of offshore Cayman Island. Cayman Island offshore sector comprises banks, captives, offshore companies, hedge funds and other financial activities. Cayman Island offshore banking is one of the most advanced globally.

As a dominant tax haven offshore, Cayman Island was ranked in 2010 as the fifth most important international banking center worldwide and was home to over 700 captives, accounting for several billions of US $ in assets under management and captive premiums. Cayman Island offshore banking is a very well developed sector that contributes significantly to the economy of the Islands.

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