The Cayman Islands comply with OECD financial regulations and cooperate with the international community in the fight against money laundering. Despite the recent crackdown on offshore banks in recent years, the Cayman Islands are still one of the safest places in the world for Your money, according to the Financial Secrecy Index. The Business Center Zug supports you comprehensively and competently with your company founding on the Caymans Islands!
The Cayman Islands consist of a group of three islands in the western part of the Caribbean, 700 km south of Miami and 750 km east of Mexico. The three islands of Grand Cayman, Cayman Brac and Little Cayman are adjacent to the Greater Antilles and the Western Caribbean.
Tourism is the country’s main source of income, accounting for 70% of GDP, followed by the financial services industry. The largest sectors are banks, hedge fund management and self-insurances. The Cayman Islands are the fourth largest banking center in the world, home to 40 of the world’s 50 largest banks. The islands also host the world’s second-largest captive insurance industry with premiums of more than $ 7.7 billion and assets under management of nearly $ 37 billion.
The national currency Cayman Dollar (KYD) is linked to the US dollar. Although the country does not know any form of taxes, there are forms of indirect taxes that allow the government to collect revenues, such as taxes. Import tariffs achieved. The islands have a state-of-the-art telecommunications network.
There is no obligation to disclose the beneficial ownership or details and personal information of shareholders and directors to the public. However, the name and details of the director must be submitted to the commercial register upon the presentation of the constitutional documents. All information is kept confidential with minimal personal exposure. The use of designated directors and shareholders is permitted. A shareholder may be a natural person or a legal entity of any nationality and resident throughout the world. Personal information about the shareholders is not publicly available and does not need to be transmitted to the business register. There are no exchange controls on the Cayman Islands.
For decades, the Caymans have provided world-class financial services and the best conditions for offshore transactions. The location is particularly attractive to hedge funds, captive assurance companies and international investment management. The Cayman Islands have stringent offshore banking laws that effectively protect the privacy of individuals. There are six different types of offshore companies and a Special Economic Zone has recently been set up to make the island even more attractive for international investment. The team at the Business Center Zug will be pleased to advise you, ask us!