Cayman Enterprise City (CEC)
About Cayman Enterprise City
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones focused on attracting knowledge-based and specialised-services businesses to set up a physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives City and Cayman Maritime & Aviation City.
With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
CEC is in the process of building a new purpose built 53-acre campus 'Class A' office space located between South Sound and George Town. Until these facilities become available, there are provisions for commercial spaces within Strathvale House, BritCay House, Cayman Financial Centre and Breezy Castle Building. Over 250 businesses are already operating under the regime.
Enterprises set up within the Special Economic Zones (SEZs) are also exempt (subject to certain conditions) from any liability or obligation to pay direct or indirect taxes, import or other duties, or fees (including in respect of registration, filing, employment, profits, income, gains, appreciations, transfers, assets, property, real estate, planning consents, gifts, estate duty, stamp duty, inheritance, import, export, or otherwise, with specific exemption from import duty on branded stationery, marketing materials and related paraphernalia of SEZ enterprises that may be, are, or are to be levied by or on behalf of the Government between now and the end of the 2061 calendar year.
One of the attractive features of setting up within the SEZs is the bundling of most, if not all, of the regulatory costs attached to carrying on business in and from the Cayman Islands into a single fee payable to CEC. Another attractive benefit is the speed and ease at which companies can be set up within their respective zones. Work visas can be granted in 5 days and businesses can be set up and fully operational in 4-6 weeks.
Please see here for more information on Cayman's Special Economic Zone.
Highlights
- Three Unique Special Economic Zones
- Access to Global Markets
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Last updated: 02 March, 2023