Located 268 km north-west of Jamaica and 640 kilometers south of Miami in the Caribbean, Cayman Islands consist of three main islands. George Town is the capital and main business center of the islands.
Financial service industry and tourism industry are the islands’ main sources of economic income. The islands mainly produce building materials as well as light industry products and processed foods that are related to the tourism industry. Cayman Islands are the fifth biggest financial center after New York, London, Tokyo and Hong Kong. The islands are ideal for investment holdings companies as they can be a GEM (Growth Enterprise Market) listed company of NASDAQ in the United States and Hong Kong, and then listed and traded at Singapore Exchange Market. This is also the reason that most of the companies established in Cayman Islands are mostly holding companies for an overall management of their assets. Besides, it is often planned have an establishment before putting the company on the stock market and purchasing assets due to the high transaction fees. This will facilitate CPAs’ audit works and help companies to save costs.
The legal system of Cayman Islands is established according to the common law system of the United Kingdoms. The islands do not levy any tax at all, no matter on individuals, companies or the trust industry. This turns the Islands an authentic tax haven. Cayman Islands received a royal decree in 1978, which grants Cayman Islands permanent exemption from tax obligation, and this decree remains now. ＊To establish an Offshore Company in Cayman Islands, it is a must to provide anti-money laundering data (information of all shareholders, directors, employees, legal representatives and ultimate beneficiary) to the Cayman registered agent for archiving. If the customer is monitored by PEP, the company will be put on the watch list by the government and registered agent.