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Home > Offshore Jurisdictions > Cayman Islands
Cayman Islands Offshore Company FormationThe Cayman Islands is a group of three islands in the Caribbean to the south of Cuba and north west of Jamaica. The capital and financial centre, George Town is on the largest island, Grand Cayman. The territory is a British Crown Colony and the British government has the ultimate power to legislate. There is however a Legislative Assembly which governs and enacts legislation with the consent of the Crown. The Governor, appointed by the Crown, is responsible for external affairs, defence, law and order and the civil service. The language is English and the currency the Cayman Islands dollar. Financial services and tourism are the mainstays of the economy. Cayman Islands Financial Services The Cayman Islands hosts a substantial financial services industry and is a major centre for offshore banking, offshore fund management and captive insurance operations. The Companies’ Act 1960 as amended is based on the English Companies’ Act of 1948. The Act provides for exempt companies and a Cayman exempt company must conduct its business activities outside the Cayman Islands. It is not permitted to own real estate within the Cayman Islands. Being a British Controlled Territory the Cayman Islands is subject to the terms of the European Savings Tax Directive. For further information on this subject click on the link to view the latest news item. Cayman Islands offshore company formation regulations
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