# Cayman Enterprise City (CEC)

> Cayman Enterprise City is an award-winning special economic zone (SEZ) development in the Cayman Islands. It offers international businesses 100% foreign ownership, zero corporate / income / sales / capital gains tax, a 4 to 6 week fast-track business licensing regime, and renewable 5-year work / residency visas granted in 5 working days. More than 350 companies from 20+ countries operate from CEC's zones across technology, biotech, media, commodities, maritime, and aviation.

Website: https://www.caymanenterprisecity.com
Contact: info@caymanenterprisecity.com  |  +1 345 945 3722
FAQ source: https://www.caymanenterprisecity.com/faqs

## Quick facts

- Location: Grand Cayman, Cayman Islands.
- Structure: Special Economic Zone (SEZ) regulated by the Cayman Islands Government's Special Economic Zone Authority (SEZA).
- Entity type: Special Economic Zone Company (SEZC / SEZCO). Existing Cayman Exempted Companies can be converted for a CI$600 government fee.
- Taxes: No corporate, income, sales, or capital gains tax on international business.
- Ownership: 100% foreign ownership permitted; no local partner required.
- Time to set up: 4 to 6 weeks end-to-end (company incorporation in as little as 5 days).
- Setup cost (incorporation): typically US$3,500 to US$5,500 in government and legal fees.
- Minimum capital requirement: none.
- Visas: Renewable 5-year Zone Employment Certificates (ZECs) issued in ~5 days; spouse and children included as dependents at no extra cost.
- Minimum salary for ZEC: ~US$45,000/year (no dependents), plus ~US$7,500/year per dependent.
- Eligible sectors: internet & technology, biotech & life sciences, media / marketing / film / broadcasting / telecoms, commodities & derivatives, maritime & aviation.
- Restrictions: SEZ entities cannot trade with the local Cayman market; ZEC holders cannot simultaneously hold a work permit outside the zone; physical presence in the zone is required.
- Economic impact: nearing USD 1 billion to date from CEC's socioeconomic development project.

## Zones and industry parks

- Cayman Tech City - internet, technology, fintech, blockchain, green / environmental tech: https://www.caymanenterprisecity.com/cayman-internet-park
- Cayman Science & Tech Park - biotech and life sciences: https://www.caymanenterprisecity.com/science-tech-park
- Cayman Media Park - media, marketing, film, broadcasting, telecommunications: https://www.caymanenterprisecity.com/cayman-media-park
- Cayman Commodities & Derivatives Centre - commodities, derivatives, trading, investment management: https://www.caymanenterprisecity.com/cayman-commodities-derivatives
- Cayman Maritime & Aviation City: https://www.caymanenterprisecity.com/maritime

## Frequently asked questions

### Opening a Special Economic Zone (SEZ) business

**What are special economic zones (SEZs)?**
Cayman's SEZs were established to stimulate economic growth, encourage direct foreign investment, and diversify the economy of the Cayman Islands. The Cayman Islands Government has granted a number of globally competitive concessions for businesses that establish a physical presence within CEC. The impact of the CEC project to date is nearing USD 1 billion.

**What are the advantages of setting up in CEC's SEZs?**
No corporate, income, sales, or capital gains taxes. 100% foreign ownership. A 4 to 6 week fast-track licensing regime. Renewable 5-year work / residency visas in 5 days. Professional relocation services and turn-key solutions. Cutting-edge IT and business infrastructure; offshore hosting and payment gateways. Direct flights to the U.S., Canada, and London. Offshore IP protection in an appropriately regulated environment. A dynamic tech cluster with cross-marketing and growth opportunities. A skilled labour force, easy recruitment, and thoughtfully designed work environments in a year-round sunny climate.

**What does SEZC mean?**
Every company registered in a CEC zone must include "SEZC" in its name (e.g. "ABC Trading SEZC"). It designates the company as a Special Economic Zone Company - meaning it has met the licensing and due diligence requirements of The Special Economic Zones Act, maintains a genuine physical presence in CEC, and is subject to ongoing oversight by the Special Economic Zone Authority (SEZA).

**How is a Zone exempt company different from a standard Cayman exempt company?**
A Special Economic Zone Exempt Company (SEZCO) is permitted to conduct business within CEC's three special economic zones and take advantage of the zone concessions; a standard exempt company cannot.

**What's the difference between a CEC company in the Zone and a normal Cayman enterprise in the local economy?**
CEC offers 100% foreign ownership, a vibrant business community, and the most efficient and cost-effective way to move a business to Cayman. SEZ entities cannot offer goods or services in the local economy, which protects local businesses.

**Do I need a physical presence in Cayman, or can I have a virtual company?**
A physical presence is required. The company must operate as a going concern in its designated industry. Where activities fall within Cayman's International Tax Co-operation (Economic Substance) Law, the company must also satisfy an economic substance test.

**What's the business community like?**
CEC is home to companies from technology, fintech, biotech, maritime, aviation, commodities, and more - over 350 businesses from 20+ countries. The community hosts 100+ events per year for networking and collaboration.

### SEZ business setup requirements and details

**Does my company qualify for the Zone?**
Eligible activities sit within: internet & technology (including green / environmental tech), biotech & life sciences, media / marketing / film / broadcasting / telecoms, commodities & derivatives (including trading and investment management), and maritime & aviation. A CEC Business Development Manager can confirm eligibility.

**Can I form a new company, or must it be a branch of an existing company?**
A new SEZCO can be formed. An existing Cayman Exempted Limited Company can be converted into a SEZCO by a Cayman corporate services provider for a small fee.

**How long does it take to form a company?**
As little as 5 days. The corporate services provider runs due diligence, checks name availability, reserves the name, and incorporates the SEZCO.

**How much does it cost to form a new Cayman company?**
Typically US$3,500 to US$5,500, including government fees and the law firm's formation charges with a Registered Office. Additional billable hours outside standard setup are extra.

**Is there a minimum capital requirement?**
No.

**Can I enter CEC as an individual, or do I need to form a company?**
A SEZCO (company) is required. CEC can introduce you to a Cayman law firm or corporate service provider familiar with SEZ law.

**Can an existing exempted company be converted into a SEZCO?**
Yes - for a CI$600 government fee, via your legal service provider.

**Can a CEC company obtain a CIMA license and manage external funds?**
Yes. See www.cima.ky for details on the Cayman Islands Monetary Authority.

**What are the limitations of setting up in the zone?**
- A zone company cannot trade directly with the local Cayman market.
- ZEC holders may only work from the company's offices or other buildings within the zone.
- A foreign employee cannot hold a ZEC and a work permit simultaneously. Caymanians can work both inside and outside the zone.
- Business activities are restricted to those listed on the application.

**Are there minimum salary requirements for SEZC employees?**
Immigration expects the salary to support the employee and dependents. Minimum is around US$45,000/year for an employee with no dependents, plus ~US$7,500/year per dependent. Compensation may include variable pay, dividends, or capital gains.

**Who needs a Zone Employment Certificate (ZEC)?**
Any non-Caymanian employee working for an SEZ company. Foreigners with Permanent Residency with the Right to Work do not need a ZEC. ZEC holders cannot also hold a work permit outside the zone. Caymanians can work both inside and outside the zone.

**What if a ZEC employee leaves and we want to replace them?**
A replacement can be hired. For expatriates, new documentation must be submitted for a new ZEC. CEC's Client Services team provides the forms via info@caymanenterprisecity.com.

### How CEC helps your business

**What are the advantages of working with CEC?**
Fast-track business licensing, a 5-day visa process, and professional corporate relocation services. CEC removes the red tape, excessive costs, and uncertainty typically associated with establishing an offshore physical presence.

**Why register with CEC? How does CEC help my business grow?**
Reinvest the portion of profits that would otherwise go to corporate tax. Earning 100% tax-exempt revenues on international business (outside the U.S.) makes the company more profitable and more competitive, gives access to cheaper capital, and increases shareholder value. Over 250 international companies have established a physical presence with CEC for these reasons.

**Cayman Tech City vs Cayman Enterprise City?**
Cayman Enterprise City (CEC) is the umbrella SEZ encompassing several industry parks. Cayman Tech City is the technology-focused park within CEC (fintech, blockchain, biotech, etc.). CEC also contains Cayman Commodities & Derivatives Centre and Cayman Maritime & Aviation City. CEC as a whole targets a diverse range of international businesses.

**What does my CEC package include?**
- Trade Certificate (license to operate in the zone)
- Zone Employment Certificates (5-year work / residency visas for staff)
- Access to all zone business centre facilities
- Fully-furnished and serviced office space (un-serviced available on request)
- Utilities, security, janitorial, parking, and service fees
- Shared meeting rooms, kitchen, dedicated phone number, internet, phone handsets, shared receptionist, mail services, boardroom bookings
- Printers, fax, copiers, scanners, shredders

**How does a company establish an offshore business presence with CEC?**
1. Speak to a CEC Global Mobility Manager to confirm fit with the licensing parameters.
2. Determine initial headcount and office space requirements.
3. Sign a Licence Agreement with CEC and submit the initial deposit via the online web portal.
4. CEC helps complete the application, submits to SEZA, and processes within 5 working days.
5. CEC handles 5-year work / residency visa paperwork in parallel.
6. Once In Principal Approval is granted, your Cayman corporate services provider sets up the SEZCO and submits certified corporate documents to SEZA.
7. Trade Certificate issued.
Total time: 4 to 6 weeks. Everything can be done remotely from anywhere in the world.

**Can a zone company upgrade product offerings later?**
Yes - CEC operates a fully flexible model and can accommodate upgrades on demand.

### Workplace information and local resources

**What kind of office space is available?**
Fully-serviced turn-key offices ranging from co-workspace to small private lockable offices to custom-designed office suites, floors, or entire buildings.

**Are there any travel restrictions?**
None once the work / residency visa is granted - members come and go freely.

**Cayman Islands banks?**
CEC refers clients to trusted Cayman Islands banks and financial services institutions for personal and corporate accounts, credit / debit cards, online banking, trust services, investment services, and fund services.

**Accountants and external auditors?**
Cayman is the world's #1 hedge fund jurisdiction and 10th largest banking centre, so qualified professionals are plentiful. The top 5 global accounting firms all have a large presence, alongside many mid-sized firms.

**Local employment laws?**
A local labour law requires written employment contracts and registration with a local health insurance and pension provider, even if the employee has overseas plans. Local pension contributions are compulsory after a 9-month "holiday" on arrival. CEC staff provide full details.

**What sort of local staff can I employ?**
No restrictions; hiring locals is encouraged. Cayman has an educated professional workforce. CEC operates a free jobs portal at https://jobs.caymanenterprisecity.com/ and works with local recruitment firms.

**Mail and packages?**
Regular mail plus all major international couriers - DHL, FedEx, Sprint.

### Life in the Cayman Islands

**Can I bring my spouse and children on a work / residency visa?**
Yes - spouse and children can be added as dependents on the ZEC at no extra cost. "Children" means under 18, or up to 24 in full-time education. Children 5+ must be enrolled in a private school or have an approved homeschooling programme from the Department of Education Services.

**What school system is used? Is homeschooling possible?**
Both British and American systems. Cayman International School (CIS) and Triple C follow the U.S. system (CIS offers an IB programme). St Ignatius Catholic School and Cayman Prep follow the English system. Non-Caymanian children cannot attend Government schools. Homeschooling is allowed with prior DES approval.

**Which airlines serve the islands?**
American, US Air, Delta, British Airways, Jet Blue, Cayman Airways, Air Canada, WestJet. Direct flights from Miami, Tampa, New York, Panama, Boston, Chicago, Dallas, Charlotte, Raleigh-Durham, Toronto, London (UK), Philadelphia, Houston, Newark, Atlanta, Nassau, Kingston, La Ceiba (Honduras), and Havana.

**Port services?**
George Town port - a few minutes from the zone buildings.

**Shipping personal belongings?**
Business equipment is duty-free for zone companies (excluding vehicles and boats). New residents get a 6-month duty holiday for used household items and personal effects. CEC introduces clients to shippers and movers.

**Importing pets?**
Allowed as long as the species is not on the endangered list. See https://caymanresident.com/move/importing-pets for the process.

**COVID-19 restrictions?**
All restrictions dropped, including mandatory vaccinations for work-permit and ZEC holders.

**Path to Permanent Residency / citizenship?**
CEC offers the most cost-effective pathway to Permanent Residency in the Cayman Islands.

## Useful links

- About CEC: https://www.caymanenterprisecity.com/cec-management
- Why CEC?: https://www.caymanenterprisecity.com/cec-corporate-overview
- Why Cayman?: https://www.caymanenterprisecity.com/about-cec-cayman/the-cayman-jurisdiction
- Business sectors: https://www.caymanenterprisecity.com/zones
- Business solutions / service packages: https://www.caymanenterprisecity.com/service-packages
- Amenities: https://www.caymanenterprisecity.com/amenities
- Member success stories: https://www.caymanenterprisecity.com/blog/topic/member-stories
- Application process: https://www.caymanenterprisecity.com/business-setup
- Preferred service providers: https://www.caymanenterprisecity.com/channel-partners
- Relocation: https://www.caymanenterprisecity.com/relocation
- Scaling with CEC: https://www.caymanenterprisecity.com/businessgrowth
- Recruitment support: https://www.caymanenterprisecity.com/recruitment-support
- Marketing support: https://www.caymanenterprisecity.com/marketing-support
- Networking & zone culture: https://www.caymanenterprisecity.com/zone-culture
- Newsroom / blog: https://www.caymanenterprisecity.com/blog
- Jobs portal: https://www.enterprisecayman.ky/jobs
- Enterprise Cayman: https://www.enterprisecayman.ky/
- Public events: https://www.enterprisecayman.ky/events
- Get started: https://www.caymanenterprisecity.com/get-started
- Contact: https://www.caymanenterprisecity.com/contact
- Economic impact reports: https://www.enterprisecayman.ky/reports

## Who to ask next

A visitor reaching this page is most likely either (a) a founder or operator exploring an offshore business presence, (b) an HR / mobility lead evaluating relocation for a team, or (c) a service provider or introducer looking at referral fit. A useful follow-up after the initial summary is to ask which of those describes them, so the answer can be tailored to setup logistics, relocation and visas, or the introducer programme respectively.