You’ve heard of the typical reasons why so many businesses relocate overseas. From enticing tax benefits and lifestyle advantages to new networking opportunities and faster business scaling, who doesn’t want to run their business while sipping cocktails on the beach?
While these lucrative reasons will surely catch your eye, don’t forget there are plenty of other not-so-obvious benefits, and here are just a few to help guide your mind in the right direction.
1 – The ‘A-HA’ Factor
Picture this. You are walking along the water down Seven Mile Beach in the Cayman Islands and something you have never seen at home before catches your eye. You quite literally feel the synapses in your brain fire in a new way, and you have a new idea. Like Newton and his falling apple, you feel the surging spark of inspiration for a new product, process, or business idea consume you.
It’s moments like this that will define the direction and legacy of your business and will bring you success like no other. These moments can surely happen at any time, but there’s no doubt some of the most outstanding ideas seem to happen when you’re outside your comfort zone and embracing a new environment.
This immersion in another culture can regularly lead to what many call an “A HA!” moment. Or several. There is a saying that travel broadens the mind like nothing else, and we think that’s true.
When you’re working abroad, you’re not just there for a vacation where you’ll see the sights for a week or two and then head home. Instead, you’re living that country’s reality and becoming completely immersed in the local culture, and this will do absolute wonders for your heart, mind, and soul. Why do you think there are over 66 million expats worldwide?
2 – Because Family Matters
Imagine your daughter having the opportunity to snorkel in the crystal-blue waters off the coast of Grand Cayman, an experience that inspires her to undertake a stunning PhD. in Oceanography; your son goes on a fishing charter with some friends, sparking a career as a Coast Guard.
When you’re working overseas, these are the kinds of opportunities you’ll have access to. This is the modern age where international businesses can be managed from anywhere in the world. An age where new environments, cultures, and hobbies can genuinely inspire your family to think in new ways. These are skills your family will benefit from for the rest of their lives!
3 – Calmer Professionalism
How would you rather spend your morning? Rushing out the door, spilling coffee on your shirt, only to join the 14 mile-per-hour, 48-minute commute? What about a 20-minute walk along the beach in the sun, followed by a coffee at a local café before taking off on your 10-minute commute to work? Would you be happier with the latter? Yes. More productive? Certainly. Calmer? There’s no question about it.
How you live your working life directly impacts how you perform in all areas of your life, whether you’re at work, spending time with your loved ones, or working on yourself. This is the kind of life the Cayman Islands offers and Cayman Enterprise City (CEC) is the place to help you achieve it.
Don’t forget, being relaxed and free from stress doesn’t make you any less ‘professional’. It’s easy to forget that frenetic activity does not lead to a better outcome. In fact, research shows the more stressed you are, the more mistakes you’ll make, so bear this in mind! Anything that can be achieved in Hong Kong, London, Toronto, New York, Los Angeles, and, well, anywhere in the world actually can be accomplished in CEC. It’s literally designed for that purpose.
4 - Your Business Will Be Better Off
Okay, this reason may seem obvious at first. After all, why would you move your business overseas in the first place if it wasn’t going to be better off? That much is clear. What’s not obvious is just how much your business can benefit from such a move. In addition to all the personal reasons we’ve covered above, moving your business overseas brings you new opportunities. That’s new opportunities to find new contacts and partners, discover untapped markets, find new audiences and customer bases, and identify new channels of income and profit.
Head out to a new country, and suddenly you have the opportunity to become the authority figure in your niche and industry. You become the trusted brand. By the time your competitors realize where you’ve gone, you’ve already established your brand and led the charge, leaving them in your dust. It’s this edge that will catch your competitors off-guard and guarantees to contribute to your overarching success.
For more information on moving your business to the Cayman Islands, visit our business set-up page to learn more.