Grand Cayman, Cayman Islands (17 May 2018) – Cayman Maritime & Aviation City and The Civil Aviation Authority of the Cayman Islands (CAACI) announces the arrival of its first special economic zone company, CHC Helicopter, a global offshore transport company with bases in six continents. The company runs one of the most extensive search and rescue (SAR) networks in the world, and transports offshore oil and gas workers in the North Sea, the Caspian Sea, the Atlantic Ocean, both sides of the Indian Ocean and the Timor Sea. Signing a company that has been in the transportation business for 70 years is an auspicious start to a transportation services cluster envisioned jointly by Cayman Enterprise City (CEC) and CAACI.
As a rapidly growing global economy accelerates trade and boosts the aviation industry, CAACI and CEC are exploring opportunities, collaborating and innovating for the benefit of the Cayman Islands.
“We are very excited to welcome CHC Helicopter to Cayman Maritime & Aviation City,” said Cayman Enterprise City CEO Charlie Kirkconnell. “CHC is an industry leader with decades of experience and an excellent reputation in the offshore transport industry. They are a perfect example of the type of business that the special economic zone was set up to attract and we hope that their decision to set up in Cayman will motivate other aviation industry players to consider Cayman Maritime & Aviation City as well.”
The Cayman Islands has a highly reputable aircraft registry comprised of private, corporate and commercial operations, and this new arrangement with CEC provides additional opportunities for commercial air transport operations to be conducted offshore with operators establishing their principle place of business in the Cayman Islands.
“This addition to the Aviation City and the CAACI is a very positive development for the Cayman Islands. It has shown that multi-faceted international aviation industries can be established here. Operators of Cayman Islands registered aircraft now being able to establish their principle place of business within the jurisdiction to obtain an Air Operator’s Certificate for offshore commercial air transport is a wonderful addition to our benefits” said CAACI Director-General Richard Smith.
CAACI and CEC are jointly marketing the Cayman Islands to the aviation industry, promoting its robust regulatory environment, neutral tax status, sound legal and finance systems and first-world life style, touting it as the perfect domicile from which to operate a business aviation company. Clients that qualify are aircraft owners and brokers, technology companies and start-ups engaged in aviation research and development, the head offices of aviation industry businesses, aircraft manufacturing and repair businesses, and businesses that provide management consultancy and other specialized services to the aviation industry.
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Cayman Enterprise City
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About Cayman Enterprise City
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones focused on attracting knowledge-based and specialised-services businesses to set up a physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives City and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About the Civil Aviation Authority
The Civil Aviation Authority of the Cayman Islands (CAACI) primary role to function as the regulatory organisation responsible for safety oversight and economic regulation of the aviation industry throughout the territory and to ensure that the Cayman Islands aviation industry conforms to the standards and recommended practices of the International Civil Aviation Organisation (ICAO). The guiding legislation to ensure compliance with the ICAO standards and recommended practices is the Air Navigation (Overseas Territory) Order.