Cayman: A Global Financial Centre

If you heard Cayman is a "tax haven" you've heard wrong! The Cayman Islands is a well-regulated, tax neutral financial centre. In fact, it is one of the top ten financial centres in the world, with over 40 of the top 50 banks holding licences in the country.

The Cayman Islands continues to maintain its dominant position as a leading global financial hub, efficiently connecting law-abiding users with providers of investment capital and financing worldwide, benefitting both developed and developing countries. Cayman’s commitment to excellence and modern legislation are a few key elements of its performance, particularly in capital markets and investments. Alongside this, Cayman is strengthened by close connections to the United Kingdom. Cayman has also remained the leading jurisdiction for international hedge funds, as around 85% of the world’s hedge funds are currently located here. Cayman is the number one domicile for healthcare and group captives, and continues to excel globally in banking, capital markets, trusts and fiduciary services.

As one of only four countries outside of the G20 to hold a position in the top 25 Global Financial Centres in the world, it is not surprising that The Banker magazine named Cayman as the world’s Top Specialised Financial Centre in 2017, and in 2018 the Top Financial Centre in Latin America. Industry awards such as these highlight the jurisdiction’s success in achieving legislative and regulatory balance, while creating innovative financial solutions for global clients.

History of Cayman’s Financial Services

On the dark and moonless night of the 8th of February 1794, a navigational error resulted in ten British ships, including a Royal Navy vessel (HMS Convert), being wrecked on the treacherous coral reefs off East End, Grand Cayman. This event, or so many believe, may have led to Cayman’s current tax neutrality. Read on for more!

Cayman Positioned for Growth

With a winning regulatory framework that is continuously enhanced to ensure it meets the needs of licensees and their clients, coupled with new legislation, Cayman’s financial sector is poised for growth. Read about how Cayman’s unparalleled market leadership across key sectors and new financial products such as the LLC that is aligned with the onshore corporate framework of the Delaware LLC, will help secure more business for the country.


‘Tax haven’ is a phrase that is often thrown around in the media and politics, and incorrectly assigned to the Cayman Islands. Cayman does not meet any of the tax haven definitions set out by the OECD, Transparency International or Tax Justice Network. It does not offer tax incentives designed to favour non-resident individuals and businesses.

Cayman’s Financial Performance

Click here to learn about how many licensed banks and trusts operate in the Cayman Islands. We also give a brief overview of financial statistics, from the captive insurance industry to CLOs, and the number of companies registered in the Cayman Islands.

Ship & Airplane Registration

The Cayman Islands is recognized internationally for both it’s well regulated ship and aircraft registries. The shipping and aircraft registries are maintained by the Maritime and Authority of the Cayman Islands and the Civil Aviation Authority of the Cayman Islands respectively. Both organisations adhere to international standards and provide a range of world class services to their clientele.