Top 7 perks of relocating to the Cayman Islands
Top 7 perks of relocating to the Cayman Islands
Everyone might dream of living on a Caribbean island, enjoying tropical temperatures, sandy beaches and a relaxed, laid-back lifestyle, but few actually take the steps to investigate whether it’s a real possibility for them professionally or simply just a pipe dream.
In the Cayman Islands we like to think we have it all: a fantastic Caribbean environment in which to work, live and relax and a first class professional infrastructure that makes this jurisdiction one of the world’s most successful offshore financial centres.
We’ve compiled our top 7 reasons why you should choose the Cayman Islands when thinking about relocating.
1. The Cayman Islands is a British Overseas Territory, meaning it is overseen by the British Government, has a Governor appointed by the UK and a local government which runs the islands’ day-to-day affairs. This means it’s a strong and stable environment in which to do business.
2. We are a tax neutral jurisdiction, which means we don’t pay income, capital gains, property or inheritance tax. Tax only comes indirectly in the form of import and customs duties and stamp duties on property purchases.
3. Cayman’s financial services industry is the envy of the world over. We lead the world in the hedge fund industry and are the world’s number two in the provision of captive insurance. This means we have an incredibly strong financial services industry which, in turn, means we have some of the world’s best accountancy and legal firms on island to provide services to the industry.
4. Cayman is a multi-racial society with well over 100 nationalities living here in harmony. This means incredible diversity when it comes to restaurants, entertainment, shopping and socializing. Some of the most popular nationalities include Canadian, American, South African, Filipino, British and Irish – to name a few!
5. We have a high proportion of expatriates (as well, of course, as locals) who also have young families. The island is a brilliant location for raising youngsters, and nurseries and schools are of a very high standard. Locations such as Rum Point and Camana Bay are particularly well geared towards entertaining kids and provide fun for all the family.
6. With such a large expatriate community, relocating and setting up in the Cayman Islands can be quite simple. Renting or purchasing property is easy to source with ample professional real estate agents who will help you rent or purchase. The immediate needs of new residents are very well catered to. Likewise, excellent car dealerships and electronic stores are on island to assist with your important large purchases. In addition, there is a thriving second hand market whereby you can purchase a myriad of items such as cars, sports equipment and household products (see ecaytrade.com and http://freecayads.com as good examples). Or, you can always ask an expat or our team for some advice to make the transition easier!
7. A high quality infrastructure means we enjoy some of the best telecommunications services anywhere in the world, with broadband internet services and wifi in many public places such as in libraries and coffee shops.
If you are contemplating relocating to another country, think about the Cayman Islands because we really do have it all.
Founder and Managing Director
With over 20 years of executive recruitment experience in financial services and human resource management in the Cayman Islands, Michele possesses an in-depth understanding of the local market, immigration, and labor laws.