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Cayman Maritime Services Park a Safe Harbour in Turbulent Times for the Maritime Industry

[fa icon="clock-o"] Mar 28, 2017 6:18:59 PM [fa icon="user"] Hilary Cahill [fa icon="folder-open'] Maritime City


Cayman Enterprise City (CEC)'s thriving business community is increasing the promotion of its Cayman Maritime Services Park (CMSP) globally this year. Launched in 2015 as the newest component of the Cayman Special Economic Zone, the CMSP offers a refuge for international shipping businesses that face increasing pressure in heavily regulated or unstable parts of the world. As a safe harbour for maritime services companies, the CMSP will provide stability, security, and a wealth of strategic opportunity to continue Cayman's history of maritime excellence.

According to Charlie Kirkconnell, CEO of the CEC Special Economic Zone, the new Marine Services Park will "provide the opportunity for global businesses to mitigate taxes and offer their staff a high-quality lifestyle in a safe place with first-world infrastructure." With access to internationally renowned legal and corporate service providers, Cayman offers the perfect geographical and cultural setting for success in shipping. "We truly are the industry's pathway to prosperity," Kirkconnell says.

logo-cayman-maritime.pngWith the CMSP offering, Cayman is becoming the Caribbean's international maritime centre, offering a fast track licensing and establishment in a business friendly environment with strong ties to the maritime services industry. CEC offers office space and a welcoming business community for a variety of maritime services companies, including freight and shipping organizations. The CMSP community also hosts head and satellite offices for shipbrokers, shipping financiers, maritime research groups, and others in the broader maritime sector, creating a thriving network of likeminded professionals within a close-knit community. Staff can obtain renewable 5 year work/residency visas in 5 working days.

CMSP offers a venue for physical operations within the Cayman Special Economic Zone, allowing for the generation of active business income in the tax-neutral Cayman Islands jurisdiction. Cayman offers international prestige of its century old Cayman Shipping Registry and the Cayman Islands flag, which together with CMSP can provide an ideal solution to the myriad challenges facing the shipping industry in a volatile international era. Cayman offers optimal business travel infrastructure for multinational shipping operations as well; George Town's Owen Roberts International Airport offers non-stop flights to Houston, New York, Miami, and London.

This home base for global shipping operations has the full support of the Cayman Islands government, which has granted attractive concessions to multinational businesses and supports the legal framework that has made companies within the special economic zone a success. As the shipping industry sails through rough waters, the CMSP offers a clear way forward for operational success.

CMSP's CEO attended two key conferences last week to deepen its strong ties to the shipping industry and promote the myriad benefits of Cayman as the international maritime centre of the Caribbean. These conferences, the 11th Annual Capital Link International Shipping Forum in New York and CMA Shipping 2017 in Stamford, Connecticut, will cover industry trends and include a variety of talks and panel discussions on shipping's present and future state.

From safety and prestige to beneficial tax status and an attractive environment that draws top talent to shipping company offices, Cayman's success as a major shipping hub is reaching new heights and gaining promising momentum.



Hilary Cahill

Written by Hilary Cahill

Hilary McKenzie-Cahill is a Cayman Enterprise City staff alumni and former VP of Marketing and Business Development. Hilary is a serial entrepreneur and a powerhouse of energy, passionate about everything she undertakes.

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