8 Questions to Ask Before Establishing your Cayman Islands SEZ Business

For those interested in setting up a Special Economic Zone (SEZ) business in the Cayman Islands, the Cayman Enterprise City (CEC) offers a streamlined process that bundles your business establishment needs—from licensing and immigration to real estate and community integration—all against the backdrop of a Caribbean paradise. But before you make the move, there are vital considerations. Here are the 8 must-ask questions to set the stage for your SEZ success in the Cayman Islands.

1. What's it like Living in the Cayman Islands?

Living in the Cayman Islands offers much more than picturesque postcards. With its stable political and business environments, the Cayman Islands marry paradise with modernity. Entrepreneurs can expect a warm welcome into an international community that favours a luxurious and healthy lifestyle. The archipelago comprises three islands—Grand Cayman, Cayman Brac, and Little Cayman—with a population of about 79,000 and an average temperature of 80°F, an array of nationalities, and a world-class education system that follows the British or American curriculum.

2. Why is the Cayman Islands an Ideal Business Destination?

For business owners, the Cayman Islands present extraordinary benefits, particularly within the CEC. SEZ companies in Cayman experience a 100% exemption from capital gains tax and corporate tax, which translates to a significant competitive advantage. Furthermore, geographic proximity to major financial centres and speedy digital communications mean Cayman is well-connected to global markets, fostering an entrepreneurial environment that's conducive to growth and innovation.

3. Will Cayman Suit My Family?

Moving your business is not just about relocation—it's a lifestyle change for your entire family. For parents, the peace of mind provided by high-quality education is often of utmost importance. In Cayman, your children will have access to a range of schools, both public and private, that deliver international standards of education. The islands offer not just schooling but a variety of extracurricular activities to enrich their formative years. The Cayman Islands' education system is diverse and widespread, with opportunities for children in areas varying from the arts to the sciences, preparing them for a global future.

4. What's the Real Estate Market Like?

Investing in real estate can be a lucrative way to secure a future for your business and personal life. And in the Cayman Islands, the real estate market is robust, with a variety of options to suit different investment profiles. An added benefit is the lack of annual property or capital gains taxes for properties rented out as investments, creating a real estate landscape that is both investor-friendly and predictable. The real estate market in the Cayman Islands provides an excellent opportunity for international investors. Properties are available for personal use, with no restrictions on foreign ownership, and investments yield high returns thanks to the islands' economic growth, stable infrastructure, and high demand.

5. What is Medical Care Like?

Ensuring access to quality healthcare is imperative for any family setting up a new home. The Cayman Islands' medical services are extensive and include modern hospitals with specialist clinics, offering a breadth of healthcare facilities to residents. Whether for acute services or non-urgent check-ups, you can rest assured that top-quality care is available locally. Grand Cayman boasts several hospitals, public and private, along with a network of general practitioners and family medical practices, ensuring that health care on the island is both comprehensive and convenient.

6. What do I Need to Know About Immigration and Visas?

For entrepreneurs seeking to establish a business in the Cayman Islands, the process is designed to be straightforward. When incorporating a company in the CEC, you can easily arrange for your staff and their families to live and work in the Islands without the typical visa restrictions encountered elsewhere. The CEC provides a streamlined immigration process that allows for easy relocation of existing staff or the hiring of new talent from around the globe.

7. What Makes Cayman Enterprise City a Hub of Innovation?

CEC's reputation precedes it as it has garnered accolades as one of the leading free zones globally. Its commitment to serving businesses has led to it being recognized for maintaining a regulatory environment that encourages and fosters growth, particularly in emerging areas such as fintech, blockchain, biotech, and digital marketing. It goes the extra mile by providing construction projects for businesses to expand, thus acting as an incubator for innovation and progress.

8. How do I Get Started?

Beginning your business venture in the Cayman Islands requires careful planning and guidance. CEC has developed a streamlined approach to company formation, ensuring that entrepreneurs can set up businesses efficiently and without the complexities often associated with offshore entities.

Taking the Plunge

Are you ready to transform your business into an island success? The Cayman Islands offer an inviting atmosphere for both personal and professional growth. Explore the fruitful possibilities of starting your venture in an oasis of opportunity. Get in touch with the CEC and take the first step towards your enterprise's Caribbean chapter.

You can register a new business with CEC, or register a wholly owned subsidiary of a US or Canadian company -  a common structure. If you’re interested in setting up your business in the SEZ, get in touch with the CEC team today.