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, benefiting both developed and developing countries.
On This Page
- Ministry of Financial Services and Commerce
- Banking Industry
- Attorneys & Law Firms
- Accounting Firms
- Investment Funds
- Fintech
- Independent Directors
- Insurance Legislation
- Captive Insurance
- Reinsurance
- Trusts & Foundation Companies
- Structured Finance
- Collateralised Loan Obligations (CLO)
- Cayman Islands Stock Exchange (CXC)
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, benefiting 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. Cayman is one of the world’s leading international financial centres. Alongside this, Cayman is strengthened by its close connections to the United Kingdom as a British Overseas Territory. Cayman is the number one domicile for healthcare and group captives, and continues to excel globally in banking, capital markets, trusts and fiduciary services.
The success of the financial services industry is attributed to our sound regulatory regime and political and economic stability, supported by highly skilled and experienced service providers. Additionally, we ensure adherence to international standards and we are committed to supporting global efforts to fight financial crime. Cayman is a leading jurisdiction worldwide for mutual funds and its strong international reputation has come due to our commitment to the principles of openness and transparency and we have continuously improved our legislation to meet international demands. This includes recent amendments to the Mutual Funds Act and the enactment of a Private Funds Act which implemented new rules for the registration, administration and supervision of funds.
Ministry of Financial Services and Commerce
Financial services and commerce are the Cayman Islands’ primary economic pillar. The vision of the Ministry of Financial Services and Commerce (MFSC) is for Cayman to be a globally respected centre of excellence for competitive, transparent and compliant financial services. It assists elected officials in developing and implementing policies and legislation for this purpose, and this in turn supports the local economy and encourages growth and stability in our financial services and in our commerce industry. Successive Cayman Islands Governments have been committed to implementing global standards for anti-money laundering, tax cooperation and countering terrorist financing (AML/CFT), and the Ministry’s ongoing work relating to compliance with these standards supports this commitment.
The Ministry has responsibility for the following: the Cayman Islands Intellectual Property Office, the Department of Commerce and Investment, the Department for International Tax Cooperation, the General Registry, National Maritime Affairs Secretariat, the Auditors Oversight Authority, the Cayman Islands Monetary Authority, the Cayman Islands Stock Exchange, the Civil Aviation Authority of the Cayman Islands, and the Maritime Authority of the Cayman Islands. For more information or to get in touch with the MFSC call (345) 945 5819, email: mfscpublic@gov.ky or visit www.gov.ky/mfsc.
Banking Industrykeyboard_arrow_right
Regulated by the Cayman Islands Monetary Authority, banking in the Cayman Islands is a major part of Cayman’s financial sector, with 87 banks licensed as of 2023.
Attorneys & Law Firmskeyboard_arrow_right
According to the Cayman Islands Judicial Administration there are are 1,142 licensed attorneys as of February 2025 and 71 law firms. Many of these firms have a strong global presence and are internationally renowned. A number of local firms have several offices operating around the world – from London to Hong Kong making the Cayman Islands one of the premier jurisdictions for legal services.
Read MoreAccounting Firmskeyboard_arrow_right
The Cayman Islands is a well regulated business environment, so it is not surprising that some of the top international accounting firms have offices here. Most of these international branches operate as full service firms.
Investment Fundskeyboard_arrow_right
The prominence of hedge funds (or ‘mutual funds’ as defined in the Mutual Funds Act) in the Cayman Islands and the growing investment interest in them by institutional and sophisticated and/or high net worth investors has steadily increased in recent years.
Fintechkeyboard_arrow_right
As perhaps one of the most publicly recognised applications of FinTech, cryptocurrencies are virtual currencies that use cryptography to secure and verify transactions, and to control the creation of additional units. But Fintech – a shortened form of ‘financial technology’ is broader than just cryptocurrencies.
Independent Directorskeyboard_arrow_right
A growing sector of the Cayman Islands financial services industry is the provision of independent directors. During the recent financial crisis, it became apparent that independent directors from the Cayman Islands were indispensable when hedge funds were faced with difficult decisions.
Read MoreInsurance Legislation
The enactment of the Insurance Act, 2010 (the ‘Insurance Act’) was a result of a public and private sector collaboration to improve the regulation of insurance business in the Cayman Islands, enhance protection for domestic consumers and open new frontiers of business development.The main provisions of the Insurance Act included, what were at the time, two new categories of insurer licences – Class C (special purpose vehicles for insurance-linked securities (ILS)) and Class D (large commercial reinsurers). Since 2010, there have been further developments to the Insurance Act, and in March 2013, Cayman introduced incorporated cell legislation for insurers structured as Segregated Portfolio Companies (SPCs).
The amendment in 2013 conferred several advantages, such as allowing a portfolio insurance company (PIC) the flexibility to transition to a stand‐alone insurance company, unlike an unincorporated cell. The Insurance (PIC) Regulations 2015 were brought into force on 16th January 2015, along with the related section of the Insurance (Amendment) Act, 2013. These regulations enhance the statutory insurance framework, providing additional alternatives to risk management by enabling insurers incorporated as SPCs more flexibility.
In June 2022, the Insurance Act was amended by the Insurance (Amendment) Act, so as to allow capital redemption contracts or funding agreements, i.e. contracts under which an insurer may (a) receive and accumulate sums of money; and (b) pay a sum or sums of money or render money’s worth, on dates and in amounts that are not contingent on human life or against risks of the person insured.
Captive Insurancekeyboard_arrow_right
The Cayman Islands remain one of the leading jurisdictions for captive insurance in the world. As of Q4 2024, there were 697 Class B, C and D insurance companies licensed in the Cayman Islands, writing approximately US$41.2 billion in premiums and with total assets of US$152.7 billion, cementing Cayman’s position as the second largest captive insurance domicile globally.
Reinsurancekeyboard_arrow_right
The reinsurance sector has emerged as a significant component of Cayman’s international insurance business in recent years. As of Q4 2024, there are 100 reinsurance companies registered in the Cayman Islands, with total premiums of US$25.3 billion and total assets of US$93.1 billion.
Trusts & Foundation Companieskeyboard_arrow_right
As a global centre of excellence for trusts, the Cayman Islands financial sector has serviced international clients for decades with what is the most flexible instrument for wealth structuring and estate planning.
Read MoreStructured Financekeyboard_arrow_right
Several of Cayman’s law firms specialise in capital markets and structured finance transactions for international clients.
Collateralised Loan Obligations (CLO)keyboard_arrow_right
The Cayman Islands is continuing to be the domicile of choice for US CLO managers. CLOs securitise assets, typically leveraged loans, by pooling them together and paying out income and principal repayments from the pool to note holders.
Read MoreCayman Islands Stock Exchange (CXC)keyboard_arrow_right
Based in George Town, Grand Cayman, the Cayman Islands Stock Exchange began trading in 1996, and since its inception, it has approved securities for admission for a total market capitalisation of over US$929.2 billion.
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