The Advantages of The Cayman Islands for Distributed Workforces and Global Teams

If you could work from anywhere, would you stay where you are? This opportunity is becoming more possible through the shifting of employee preferences, hiring trends, changes in the global economy and new availability of resident visas to foreigners who can work remotely.

The above trends, recent events and technological advancements have allowed businesses around the world to embrace a new hybrid work model. This hybrid solution is called ‘Distributed Workforce’ – defined as work done by employees within the same organisation who are separated by their geographical locations.

A distributed workforce offers alternative solutions to traditional companies and with its rapid upward growth its worth considering as it’s soon set to become the new norm. If you’re new to the world of remote work and trying to get your bearings, you’ve come to the right place.

This article explores the top five reasons why the Cayman Islands is the perfect jurisdiction for distributed employees and assembling global teams.

There are many compelling reasons in having a distributed team spread across multiple regions and time zones as it gives companies better global coverage. The Cayman Islands has the convenience of the East Coast time zone and it’s easy to travel between Grand Cayman and the rest of the world. International flights run daily from the Owen Roberts International Airport (GCM) with direct flights available to several cities in the United States, Toronto, London, Nassau, Havana, La Cieba, Panama, as well as Montego Bay & Kingston, Jamaica.

Not only does the Cayman Islands offer the accessibility of being close to the Americas, but its native language is English. The convenience of the English language and local customs is invaluable for a company that is trying to form stronger relationships and trust within specific geographical regions.

Perhaps the greatest benefit of having a distributed workforce is the ability for companies to find and employ the absolute best talent from all over the world. With Cayman Enterprise City (CEC) work visas, organisations are not limited to hiring local candidates, instead organisations have access to a wide-ranging pool of qualified and skilled workers from all regions of the world. CEC has a complimentary Jobs Portal and recruitment support programme. Our team works directly with recruitment specialists who can help find local or international talent to place in your Cayman Islands special economic zone office.

You are also free to bring your own specialised skilled employees from anywhere in the world to work in your Cayman Islands office with no restrictions on the number of people you can place. Rest assured that there are no H1-b visa restrictions here and five year renewable work/residency visas can be processed within five working days. The Cayman Islands has long had a reputation for openness and diversity. If the USA H1-b visa situation has affected your plans, consider coming to the Cayman Islands instead!

Allowing your employees to have a flexible schedule and work from wherever they are most comfortable helps drive productivity which leads to a boost in company innovation. In fact, a two-year study by Stanford showed; an astounding productivity boost amongst telecommuters is equivalent to a full day's work. Additionally, employee attrition decreased by 50 percent amongst telecommuters, they took shorter breaks, had fewer sick days, and took less time off. 

By setting up a physical presence within CEC, employees can choose to work from home while taking advantage of CEC's lively community events as well as campus facilities such as conference rooms, curated communial workspaces, call rooms, kitchens and fabulous lounges overlooking the George Town harbour. Don't forget the wide variety of meeting rooms available to you, these splendid spaces are designed to be the perfect place for brainstorming sessions and team huddles.

CEC enables companies from across the globe to easily and cost-effectively set up and operate offshore with a genuine physical presence. CEC enables you to have an office in a stable offshore jurisdiction, where you can legitimately generate an income which is 100% exempt from corporate, income, sales or capital gains tax . Cost savings provides businesses with the flexibility to reinvest and rapidly grow their organisations.

Renting corporate office space in large metropolitan areas could mean losing thousands. Instead, you can open a flexible office space in the Cayman Islands and hire remote employees without having to worry about additional expenses. With CEC, there are no penalties for expanding teams and you can easily expand your office space when you need it.

Take Advantage of a Quick and Cost-Effective Set-up Process

CEC’s offshore company formation process is quick and efficient and can be done remotely from anywhere in the world, subject to meeting due diligence requirements. The expedited business licensing regime can have companies fully established within 4-6 weeks, including renewable five-year work/residency visas for staff which can be processed in as little as five days.

A minimum capital investment is not required and permits, visas, trade certificates, and turn-key office solutions, are conveniently bundled into affordable serviced packages and delivered by us via a streamlined process, which removes bureaucratic red tape.

Alongside the pro-business environment, The Cayman Islands offers a vibrant community and attractive cosmopolitan-island lifestyle.

If the above points have not yet convinced you, we invite you to take a glimpse at the multiple distributed workforce companies that have actively set up a physical presence in the Cayman Islands with the help of CEC. Brave Software, Key Media, Vox Royalty Corp, Real Vision, EightPoint Technologies, FatShark, and more!

So, is your company ready to go global? Are you ready to choose a tropical paradise over your current workspace? Cayman Enterprise City is committed to working with you and assisting every step of the way – get in touch today at innovate@caymanenterprisecity.com.