| Currency |
Cayman Islands dollar
(CI$ 1 = US$ 1.20 ) |
| Language |
English |
| Legal system |
Based on British legal system and complemented by local legislation |
| Tax Regime |
No income tax, No Capital Gains Tax, No withholding taxes |
| Exchange Controls |
No |
| Forced heirship |
No |
Restriction on the Accumulation
of Income |
No |
| Types of Trusts |
International Trusts and Special Trusts Alternative Regime (STAR) |
| Perpetuity period for Trusts |
Maximum Period 150 years |
| Types of Licenses |
Category "A" Banking License- The licensee may engage in both domestic and international banking
Category "B" Banking License- The licensee may only engage in business originating in countries other than the Cayman Islands.
Category "B" Restricted Banking License-The licensee is limited to conducting business with named and approved persons outside the Cayman Islands
Trust License- The licensee may carry on trust business as defined by the Law |
| Types of Companies |
Resident
Non-Resident
Exempted
Limited Duration Companies
Segregated Portfolio
Foreign |
| Mutual Fund Requirements |
Fund must either obtain its own license, appoint a license mutual fund administrator to provide its principal office, or be registered if it requires a minimum investment of US $50,000 or if its equity interests are listed on a stock exchange. |
