A strong regulatory framework and a culture of compliance with international standards
The Cayman Islands is one of the world’s leading providers of institutionally focused, specialised financial services and a preferred destination for the structuring and domiciling of sophisticated financial services products. 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 are vigilant in ensuring adherence to recognised and relevant international standards and committed to supporting global efforts to fight financial crime.
50+ years of financial services innovation
Political and economic stability with a sophisticated legal regime
Standard-setter for regulatory and industry best practices
High level of service provider expertise
Playing a vital role in the Cayman Islands economy, financial services generated CI$1.74 billion of the GDP in 2017 (44.1% of the total economy) and accounted for 16.8% of all employment. The following sectors make up our financial services sector.
The Cayman Islands offers top-class law firms which specialise in capital markets and structured finance transactions for a global client base of institutional clients, and is a leading international provider of such services. Cayman Islands special purpose vehicles (SPVs) also benefit from easy access to the listing facility of the Cayman Islands Stock Exchange (CSX). The listing rules for the CSX were the first of any exchange to be specifically tailored to facilitate the listing of securities of funds and SPVs.
The Cayman Islands offers a full range of corporate services, including providing registered office, company incorporation, maintenance of company records, company secretarial and directorship services. All company management and corporate services businesses are regulated by the Cayman Islands Monetary Authority, whose oversight includes licensing, ongoing supervision and enforcement.
The Cayman Islands Aircraft Registry is the registry of choice for many owners and management companies with corporate aircraft. Highly respected and recognised throughout the aviation industry internationally, the Civil Aviation Authority of the Cayman Islands (CAACI) is the statutory body responsible for aviation regulatory oversight throughout the Cayman Islands and for aircraft registered in the Cayman Islands.
Dating back to the 1960s with the introduction of the Companies Law, the Banks & Trust Companies Regulations Law and The Trusts Law, the Cayman Islands has a long history of being a sophisticated business–friendly environment.
For over 50 years, we have maintained our position as a leading international financial centre through the enactment of numerous financial services legislation and proactive engagement and voluntary cooperation with international regulatory standards. We were one of the first non-OECD jurisdictions to adopt the principals of transparency and exchange of information, and the jurisdiction continues to be at the forefront of such initiatives.
Underpinning the stability, integrity and quality of the Cayman Islands financial services sector are validations by several third-party reviews, including:
Reinforcing our international cooperation efforts and key to facilitating the continual flow of information between OECD countries, Cayman also has over 120 Tax Information Exchange Agreements in place, and it has been a legal requirement in Cayman to collect, verify and maintain beneficial ownership information on Cayman entities and arrangements for over 15 years.
With financial services comprising 44.1% of the Cayman Islands GDP and employing 16.8% of the workforce in 2017, we are committed to providing a stable, responsible and responsive business environment and view appropriate regulation and international cooperation as the key drivers of commercial success, not an impediment to it.