Cayman financial services is a thriving industry with a strong heritage and well-respected reputation. It is a trusted, efficient and tax neutral hub that supports free flow of trade, capital, investment and financing around the world.
It is one of the leading international financial centres for a wide range of activities including banking, hedge funds and structured finance. Its financial services sector is a major contributor to GDP and it also plays a key role in global regulatory standards.
The industry is well represented by the representative body, Cayman Finance, which works closely with Government and other key stakeholders to ensure it thrives commercially while maintaining its leadership in global regulatory standards.
This collaboration between government and the industry is a crucial part of the country’s history and has led to many successful development achievements. The Cayman Islands was one of the first countries to recognise that the offshore financial industry should be regulated and not treated as a secretive, insular business. This stance has enabled it to grow into a highly regarded global financial centre that is recognised for its high quality and professionalism in all areas of its banking, insurance and financial services industries.
A strong and reputable financial industry has been the driving force of the Cayman Islands economy for over a century. It is a nimble jurisdiction that evolves in response to ever-changing global regulatory requirements, providing a strong foundation for the continued growth of its sector.
The industry has a number of distinct sub-sectors which are responsible for different aspects of its overall business activity. These include banks, trusts, private and mutual funds and insurance licensees. Inseparable from these are the supporting ancillary services that are critical to their operation.
These support functions include Legal, Accounting & Auditing, Finance & Insurance and the wider regulatory environment. All of these are vital to the financial services industry, and it is important that these services are maintained.
As a leader in global financial services, the Cayman Islands has always been at the forefront of innovation and has utilised this to develop products that meet market demands and provide clients with the peace of mind they want. The Cayman financial services industry has proved its resilience and importance during the COVID challenge, and it is committed to enhancing that resilience with the kind of innovation that will continue to strengthen its foundational position in the global marketplace as the economy continues to evolve.
With the industry’s representative body, Cayman Finance, working closely with Government, the Regulator and other key stakeholders, the jurisdiction will continue to thrive commercially while simultaneously maintaining its leadership role in global regulatory standards.
The Financial Services industry has a solid banking tradition with a wealth of experienced professionals at the ready to help companies and individuals navigate complex financial markets. These experts have a deep understanding of the global business landscape, which makes them the perfect partners to help you make informed and confident decisions.