CEC’s special economic zones represent the largest innovation ecosystem in the region and include some of the world’s most innovative companies, everything from start-ups to globally established publicly listed companies.
It’s not just the dynamic community of entrepreneurs and the award-winning special economic zones (SEZs) that are encouraging more and more CEOs and business owners to flock to Cayman; there are 10 other reasons as well:
1. Financial & Tax Incentives
There is no local corporate, income, sales, or capital gains tax for CEOs and their businesses. This means you can remain competitive in today’s global markets. Cayman is also one of the world’s leading International Financial Centers with the world’s number one hedge fund jurisdiction.
2. Stable, Pro-Business Regulatory Environment
Cayman meets the highest anti-money laundering compliance requirements and as a British Overseas Territory, it’s a stable country both politically and economically, thanks to a legal system rooted in English Common Law. Our pro-business government also has comprehensive legislation surrounding the intellectual property which gives you the confidence that your business and its assets are protected in the jurisdiction.
For those who establish through Cayman Enterprise City, you’re granted incredible concessions to make it quick, easy, and cost-effective for you to set up and operate your global business in the Cayman Islands.
3. Proximity to the U.S and Global Markets
Being merely an hour away from the U.S. by plane as well as close in time zones mean that your business gets to make the most of U.S. opportunities, work within a diverse global team, and still be afforded the stability and protections of UK laws.
4. Foreign Ownership and No Earning Criteria
As long as you are official corporate personnel of the company operating in the CEC, you can become part of the Global Corporate Citizen Program. You are allowed 100% foreign ownership so you can operate a global business from inside Cayman using a Zone Trade Certificate. Plus, as there are no earning criteria; it includes all staff up to C-suite executives such as yourself.
5. World-Class Infrastructure
Cayman is leading the way in terms of infrastructure in the Caribbean and our SEZs have existing cutting-edge IT and infrastructure for you to tap into for your business. Alongside reliable telecommunication and IT providers, local talent, and office suppliers, you can get access to:
● Offshore hosting and payment gateways
● High-speed Internet
● Reliable cell service
● Two Tier-3 data centres
6. Bring Your Team or Build One
Not only is there a talented and motivated local workforce in Cayman but you can also bring existing staff or new recruits from anywhere in the world to live and work in the Cayman Islands. In fact, there are no H1-B visa blockers, and no restrictions on the number of people you can place here. Plus, five-year renewable work/residency visas can be processed within five working days.
Will Carter, Chief Operating Officer at WBM Corp. SEZC has done just this, “Cayman Enterprise City has made it extremely easy to build a team of engineers from overseas. We were able to get our entire team established in a month, which is also unique to Cayman.”
7. Streamlined Licensing
You can hit the ground running when it comes to establishing a genuine presence in Cayman because alongside fast-tracked visas with no H1-B visa restrictions, you can get support with your business licensing (Trade Certificates) so red tape won’t be an issue or slow down your set up. This means that getting set up in 4-6 weeks is a real possibility.
8. High-quality Work/Life Balance
Owning or running a business is all about the right work/life balance, and as a CEO you’ll know the importance of keeping staff motivated by avoiding burnout. Cayman is the perfect combination of allowing you to focus at work while being within 10 minutes of the beach. We also have a warm and sunny climate year-round and as an active island, there’s plenty to do. Sports are in abundance, particularly by the sea, and families are well catered for too.
You’ll also be pleased to hear there are excellent schools, dining options, and world-class medical facilities for both general and specialist care.
9. Personal & Professional Networking Opportunities
As a CEO, who you know can help you grow your business. Cayman has helped facilitate many partnerships, project collaborations, and networking events throughout its SEZs and, with a rich calendar of events allowing you to meet fellow innovators and mentors it can provide professional growth opportunities.
But, more than this, being able to switch off and meet like-minded entrepreneurial spirits like yourself is important which is why we always include opportunities like sporting or charity events, and wellness programs so you can surround yourself with the right people.
10. Full support
Setting up a business in a new country can be daunting, so we’ve thought of everything you’ll need for a smooth transition. In fact, CEC has been dubbed "the best way to move your business to the Caribbean" and has attracted hundreds of companies from over 20 countries.
CEC’s Client Experience Team can help with all the important details like housing, schools, networking, health and wellness activities, and even pets and driving licenses. We’ll even introduce you to first-class service providers including lawyers, tax advisors, bankers, realtors, schools, recruitment companies and health insurance providers. Ultimately, they are here to make you feel comfortable and settled in the Cayman Islands.
So, if you want to reduce your taxes, protect your IP, grow your business, and live in paradise, the Cayman Enterprise City Special Economic Zone enables you to quickly and cost-effectively set up a physical office presence here in Cayman. Learn more here.