Premier Ownership Opportunities in the Cayman Islands
The Cayman Islands, located in the stunning waters of the Caribbean Sea, are a mecca for travelers and savvy homebuyers. The Cayman Islands are a British Crown Colony, with a long history of a parliamentary government. Great Britain is still influential in issues of foreign policy and defense.
The Cayman Islands are an excellent place for investment. The islands have long proven their staying power in tourism, the economy, and infrastructure, and offer everything under the sun from exciting outdoor adventures to world class shopping and dining. Deep sea and bone fishing are excellent here, as well as snorkeling and scuba diving. If you're looking to get away from it all and still maintain all the comforts of home, the Cayman Islands could be a perfect destination.
Further making the Cayman's a splendid spot to place your investment dollars, are the islands policies on taxes and residency. The Cayman government does not impose direct taxes, including income tax, capital gains tax, or inheritance tax. Hundreds of banks are represented here making it the financial capital of the Caribbean.
ResortandResidence.com will assist you in your search, and is pleased to find you the best the Cayman Islands have to offer.
The Cayman Islands
at a Glance
Location:
Caribbean, three island (Grand Cayman, Cayman Brac, Little Cayman) group in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica
Area: 262 sq km
Area - comparative:
1.5 times the size of Washington, DC
Climate:
Tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)
Average Temperature:
Daily average is between 77°F and 84°F
Population: 46,600 note: most of the population lives on Grand Cayman (July 2007 est.)
Legal system:
British common law and local statutes
Diplomatic representation from the US:
None (overseas territory of the UK)
Economy - overview:
With no direct taxation, the islands are a thriving offshore financial center. More than 68,000 companies were registered in the Cayman Islands as of 2003, including almost 500 banks, 800 insurers, and 5,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 2.1 million in 2003, with about half from the US. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.
GDP - real growth rate:
0.9% (2004 est.)
Currency (code):
Caymanian dollar (KYD)
Internet hosts: 4,888 (2007)
International Airports:
• Owen Roberts International Airport (GCM), Grand Cayman