Cayman Islands’ Financial Services Sector – Some Facts
Cayman is a mature and sophisticated international financial services centre which is consistently ranked as one of the top in the world. Cayman’s tax-neutral platform, sophisticated regulatory regime, economic stability and wealth of financial and legal talent makes it a pioneer for offshore domiciled corporations and trusts.
Cayman attracts some of the highest net worth individuals in the world by requiring a minimum of $100,000 investment subscription within funds registered here. Adding to this, Cayman’s regulatory regime provides stringent rules to accommodate for international regulations, tax co-operation, and prevention of financial crimes, making it the jurisdiction of choice for many of the world’s largest financial institutions, corporations and high-net-worth individuals.
Cayman is home to over 100,000 registered companies from across the globe. By the end of 2018, there were 10,992 funds registered in the jurisdiction, rising from 10,559 a year earlier. At the same time, net international assets and liabilities of cross-border positions in all currency and domestic positions in foreign currency were reported as US$672 billion and US$674 billion. The jurisdiction is also seeing a growing trend of crypto-focused funds due to the growing demand for cryptocurrencies in the global financial market, driving an increase in technology-focused work for Cayman’s financial services and legal services sector.
If you are interested in learning about opportunities in Cayman’s busy financial services and legal sectors please do not hesitate to get in touch with the Agency and one of our team members will be happy to assist you.