Globalization is the interconnection of countries across the world. It involves the people, businesses, and governments of different countries interacting with each other and integrating investments, trade, and communication. But this isn’t a new concept, Globalization has been here for centuries, it greatly accelerated since the 18th century due to advances in transportation and communication technology and has now skyrocketed during the 20th century due to a global pandemic and ever increasing sophistication of information technology including virtual assets, e-commerce and more.
The pandemic faced us with ongoing technological shifts such as global adoption of e-commerce, videoconferencing, and robots have all been supercharged by Covid-19. These pandemic-induced shifts strengthen globalization with the cross-border e-commerce export opportunities, especially for smaller companies. It also forced experimentation with remote work, which allowed business associates to nurture corporate relationships, regardless of location. “Once the pandemic officially subsides, many companies will explore the long-term potential of working remotely,” writes Lynn Kier in Forbes.
So what has COVID-19 done to globalization and innovation? The virus has exposed supply chain issues and fired up proponents for reshoring while simultaneously inspiring innovation, collaborative problem solving, international collaboration, and entrepreneurialism. The “same-old, same-old” is no longer feasible, which may not be a bad thing. Post-pandemic, we will find a new balance, and it is at least possible that the positive experiments will continue and be harnessed to tackle new companies to grow globally.
The Cayman jurisdiction has become an obvious choice for the CEO who is wanting to establish his tech company. So why not Globalize your business with the assistance of Cayman Enterprise City? CEC offers some special incentives that allow global companies to take full advantage of the financial opportunities. Here’s how it can help you make the most of the global economy to improve your business and your overall quality of life.
Friendly Government Jurisdiction With Tax Neutrality
The Cayman Islands is one of the best examples of a country’s government creating progressive policies — since 1966 — to encourage globalization and subsequent opportunities for foreign businesses like yours to thrive in a local economy. They have stripped away the red tape and made it easy for companies to go global, from Cayman’s special economic zone. In addition the Government has not imposed any form of income, inheritance gift, corporation withholdings, capital gains, or other similar taxes of digital assets. With the new wave of Crypto, it’s good to note that holding Cryptocurrency for any period and transferring crypto is also tax-free in the country.
A Seamless Process
Cayman Enterprise City’s unique 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 set to beat competitor pricing. CEC offers economical annual fees, streamlined processes, and the Global Mobility Team makes sure that you and your team are supported throughout the entire application process.
We ensure that businesses and their staff are connected with the right professionals in every industry. From doctors to educators to top real estate agents and financial services, we have excellent relationships with local service providers who can help you every step of the way. Whether you need a recommendation for a school or want to know where to open your corporate bank account, we're here to help.
After your business has established a physical presence, our team remains in a supportive role by introducing you to local service providers and top schools for your kids. CEC will be in constant contact to help both you and the company grow so that you can quickly start to enjoy life in paradise.
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