Cayman Islands

The Cayman Islands, situated 480 miles south east of Miami, enjoy a semi tropical climate and contain a population of approximately 60,000 people. The Islands are a British Overseas Territory. Her Majesty the Queen is represented by a Governor who is Chairman of both the Legislative Assembly and the Executive Council.

There are no taxes whatsoever on income or profits, capital or wealth or capital gains. The revenues of the Islands are derived from indirect taxes such as import duties and stamp duty. One of the most important features is that there never have been any income taxes. The absence of income tax is not therefore, as it is some territories, an artificial absence created by legislation, but a natural one.

Companies incorporated in the Cayman Islands enjoy the same tax status as individuals regardless of nationality of ownership. This absence of income taxes, together with political and racial stability, has attracted the attention of investors seeking a tax neutral base for their operations. The Government is aware of this attraction and has encouraged investment by the deliberate introduction of laws and development of the financial sector. Government policy is aimed at a continuation of the development of this aspect of the Islands' economy.