Looking to move your business out of New Zealand? Welcome to Cayman!
Recent news that New Zealand is about to introduce a capital gains tax on top of an already high company and income tax rate, along with their goods and services (sales) tax, has led to some firms contacting Cayman Enterprise City to explore the option of relocating their business to the Cayman Islands. Well, there are many great reasons to make the move! Let’s explore just a few of them:
Truly Tax Free
New Zealand is a relatively high-tax jurisdiction, with income tax brackets up to 39%, a corporate tax rate of 28%, and a goods and services (sales) tax rate of 15%. In addition, New Zealand Revenue Minister David Parker recently announced plans to introduce a new capital gains tax– the first of its kind in the country.
In absolute contrast, the Cayman Islands levies no tax on individuals or businesses, and never has done throughout its entire history. This is a major reason why businesses from New Zealand and around the world are frequently choosing to have an offshore physical presence in the Cayman Islands. The business climate is very friendly, with less burdensome regulations and tax-pressures to deal with, and it is also much easier to attract and retain talent when you couple no income tax with Grand Cayman’s idyllic lifestyle.
Cayman: The Gateway to the Americas
The Cayman Islands are an incredible gateway to the opportunities and economies of the Americas. As an English-speaking British Overseas Territory, with the USA a little over an hour away by plane, the Cayman Islands has close business and cultural ties with USA, Canada and the wider Americas. Moreover, there are direct flights to New York, Houston, Atlanta, Los Angela's, Tampa, Denver, Miami, Panama City, La Ceiba and Toronto amongst other major cities.
Having a presence in the Americas time zone will save your business the inconvenience of unsociable hours and allow you to properly embrace work-life balance…
A Genuine Paradise
Let’s face it, when you live somewhere like the Cayman Islands you’re going to want to take advantage of the unique location and tropical temperatures which average 85°F (30°C) and cool to 77°F (25°C) during the winter months – a little more pleasant than the mean annual temperatures range from 10°C in the south to 16°C in the north of New Zealand!
Furthermore, the Cayman Islands is surrounded by crystal clear blue water and white sandy beaches, making it a SCUBA diving and watersports paradise. New Zealand is famous for its sailing, and the Cayman Islands has a long established Sailing Club and scores of private sailing operators, as well as a surfeit of other watersports for every type of enthusiast.
Moving from New Zealand to the Cayman Islands might not be as much of a culture shock as you would imagine. Both countries have a stable government, a strong economy, and a peaceful culture that values diversity and equality. Cayman is famous for its friendly, tight-knot community, and is also a particularly safe, low-crime country.
Get Started in the Cayman Islands
It can seem a little overwhelming when considering relocating your business and life to another country, but that is where Cayman Enterprise City comes in! We have streamlined the entire process with comprehensive support every step of the way.
CEC takes away the stress with a quick, efficient, cost-effective setup in their award-winning zones. There has never been a better time to expand your business internationally and take advantage of the offshore benefits – let us help you get started!