History of Cayman's Financial Services
As a well-regulated, international financial centre with world-class infrastructure and a stable political landscape, the Cayman Islands has the ideal environment in which businesses can flourish. As a result, the business sector in Cayman is booming. Cayman’s tight regulatory framework ensures that the Cayman Islands remains aligned with international standards and expectations. With a well-developed common law system based on English law, and with a proliferation of world-class corporate service companies, predictably many companies have chosen to incorporate in Cayman.
Cayman's commitment to excellence, and modern legislative and regulatory framework are a few key elements of its strong performance, particularly in capital markets and investments. Cayman is strengthened by its close connection to the United Kingdom as well as its adherence to international standards and its commitment to supporting global efforts to fight financial crime. Our legislation has developed to meet international demands and principles of openness and transparency.
Cayman has maintained its edge as being 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.
Increasingly, companies are seeing the advantages of doing business in Cayman and are establishing new businesses or relocating part of or their entire existing operation to the jurisdiction. Exempted companies do business internationally and are not permitted to operate and compete with Cayman-owned companies, however, their workers spend money in the local economy and their presence grows emerging economies such as tech, media and IP. The establishment of a Special Economic Zone sought to facilitate this trend in order to increase investment and diversify the economy.
If you wish to incorporate or register a Cayman Islands entity that will conduct business outside of the Cayman Islands, you are required to engage a local licensed service provider to incorporate your company. Below we list details about setting up a business and we direct you to law firms and corporate service companies who can help you. We then discuss other business services which are available in Cayman to support businesses.
