Cayman Islands Banks

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Cayman Islands Offshore Bank Account. Offshore Banks and Offshore Banking in the Cayman Islands.

Worldwide Incorporation Services specializes in opening offshore bank accounts and company formation services.

Cayman Islands – General Information

Cayman Islands Offshore Bank Account

Location: Caribbean, three-island group (Grand Cayman, Cayman Brac, Little Cayman) in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica.
Area: total: 264 sq km, land: 264 sq km, water: 0 sq km.
Natural resources: Fish, climate and beaches that foster tourism.
Population: 58,441, most of the population lives on Grand Cayman (July 2017 est.).
Capital: George Town (on Grand Cayman).
Time Zone: UTC−5.
Languages: English (official) 90.9%, Spanish 4%, Filipino 3.3%, other 1.7%, unspecified 0.1% (2010 est.).
Government type: Parliamentary democracy (Legislative Assembly); self-governing overseas territory of the UK.
Legal system: English common law and local statutes.
International organization participation: Caricom (associate), CDB, Interpol (subbureau), IOC, UNESCO (associate), UPU.
Economy: With no direct taxation, the islands are a thriving offshore financial center. More than 65,000 companies were registered in the Cayman Islands as of 2017, including more than 280 banks, 700 insurers, and 10,500 mutual funds. A stock exchange was opened in 1997. Nearly 90% of the islands’ food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland.
Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America.
Currency: Caymanian dollar (KYD).

Overview

The Cayman Islands is a British Overseas Territory consisting of three islands located to the south of both Florida and Cuba located in the western portion of the Caribbean. It is conveniently located and easy to access via international air travel from any point in the globe. This British possession houses the fifth largest banking sector on the planet. With a total population of only 60,000 inhabitants, the Cayman Islands is home to over 580 banks, including major branches from the four largest banking institutions in the world. This has brought to the Cayman Islands a fast and modern telecommunications system, inclusive of modern cellular networks and high-speed internet connectivity. It is regarded by the international community as a safe and stable tax haven.

Legislation

Banks and Trust Companies Law (2013 Revision).

Offshore Banks in the Cayman Islands

Bank of Butterfield International (Cayman) Limited

Bank of Nova Scotia Trust Company (Cayman) Ltd

Cayman National Bank

CIBC Trust Company (Cayman)

Merrill Lynch Bank & Trust

NCB (Cayman)

Royal Bank of Cananda Trust Company (Cayman)

Schroder Cayman Bank and Trust Company Limited


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