Shipping & Maritime Sector

Cayman Maritime & Aviation Services Park (CMSAP) is part of Cayman Enterprise City (CEC), the Cayman Islands’ award-winning Special Economic Zone. It is the ideal hub for globally-focused shipping and maritime services businesses seeking access to Cayman’s tax-neutral environment. Businesses established within CEC have the benefit of no local corporate, income, sales, capital gains, or payroll tax.

Over 225 companies of all sizes from across the globe are already operating from within CEC and benefiting from its outstanding platform for growth. They enjoy generous Cayman Islands Government concessions, which are designed to enable the time-efficient and cost-effective set up and on-going operation of a physical presence in the Islands.  Businesses can be fully set up and operational with a staffed office within CEC in as little as 4-6 weeks; this includes the administrative processing of work/residency visas for any expatriate staff that the business
may require within 5 working days.

Concessions for Shipping and Maritime Companies and reasons to establish within CMASP 

  • The opportunity to establish a substantial onshore presence in one of the world’s leading international financial
  • Access to a safe, stable and secure onshore business environment that is regularly reviewed by the OECD and
  • the IMF, and also evidenced by the global strength and recognized quality of the Cayman Islands’ flag
  • 100% exempt from corporate tax, capital gains tax, sales tax, income tax, import duties
  • Renewable five-year work/residency visas granted for staff within 5 days
  • 4-6 week fast-track set-up of operations, including incorporation documents
  • Intellectual Property owned offshore
  • No government reporting requirements
  • Access to the Cayman Islands Aircrft Registry which operates in accordance with the ICAO compliant legislation
  • for the Overseas Territories.Strategically located next to North and Latin America and at the crossroads of two
  • of the world’s major shipping lanes
  • Access to a world-class shipping registry that is United States Coast Guard Qualship 21 rated and white listed
    on the Paris and Tokyo Memoranda of Understanding on Port State Control, as well as part of the Category 1
    Red Ensign Group

As an exclusive member of the zone you also get these perks:

  • You become part of this large, vibrant community of likeminded entrepreneurs
  • Access to our monthly networking events and meet-ups
  • Access to our monthly sporting and social events
  • Access to educational and thought-leadership events and conferences
  • Introductions to banks for all your offshore banking needs
  • Ability to join our discounted group health plan and pension plan
  • Introductions to excellent service providers including lawyers and accountants
  • Access to talent recruitment services and our free jobs portal
  • Support from onsite Community Managers
  • Access to our members portal

Eligible Market Sectors

Opportunities for SHipping and Maritime Businesses

CEC can accept companies and divisions of companies that are involved in the maritime industry including:

  • Ship owners/operators/managers
  • Shipbrokers
  • Shipping financiers
  • Technology companies and start-ups engaged in innovative maritime research and development, data management, and more
  • The head offices or satellite offices of maritime industrial businesses and yacht manufacturing and repair businesses
  • Demurrage calculation and post deal expenses calculation
  • Freight trading and brokerage businesses
  • Crew salaries and benefits processing companies
  • Bunker brokerage
  • Shipping operations
  • Logistics planning and vessel management companies
  • Management consulting
  • Other specialized services to the maritime sector

Shipping and Maritime businesses that set up a physical business presence in Cayman can maximise their profitability

 In some parts of the world businesses pay as much as 30% corporate tax but because of Cayman’s tax neutral environment, a business can take a greater portion of its revenue to the bottom line. This allows a business to have access to a larger portion of its revenue for distribution to shareholders or for reinvestment into the business, including into research and development, talent recruitment and/or development, etc. All of this means your business can reach its maximum potential faster.

And if your goal is to build your business for a profitable exit, remember that there is no capital gains tax in Cayman, which could make an enormous difference in how much the exiting shareholders take home at the end of the day!

Find out how establishing in the Caribbean’s International Maritime & Aviation Centre can benefit your business.  Call us on +1-345-945-3722 today or email: info@CaymanEnterpriseCity.com for more details.

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