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Benefits of Opening a Business in The Cayman Islands

Updated time: 02 Jun, 2020, 17:15 (UTC+08:00)

The Cayman Islands is a reputable offshore center which is located on three islands in the Caribbean. Cayman has the number of offshore companies higher than its population. Let’s discover why these Caribbean islands are a destination for business!

Permitted: Benefits of opening a business in Cayman Islands

Business-friendly environment and sound taxation system

Many entrepreneurs and businessmen prefer opening a business in the Cayman Islands due to the reason that it has a stable economic and political climate. Businesses in the Cayman Islands could take advantage of up-to-date infrastructure, flexible exchange controls, and world-class communication systems that facilitate business operation. Moreover, the government of the Cayman Islands is very responsive and business-friendly so that businesses could receive positive support and rely on the sound legal system.

One of several benefits of opening business in the Cayman Islands includes there are no direct taxations. Business owners in the Cayman Islands will not have to pay either corporate or personal income taxes while they are also free of taxes on gains and profits from investments. In addition, there is also no property tax. These benefits make the Cayman Islands an attractive place to set up a business.

Accessible location and qualified human resources

With a convenient location in the Caribbean, it is quite easy to travel to the US, UK, Canada, and other parts of the world. This is a huge benefit for businesses in the Cayman islands to exchange commodities, go on business trips, and conduct other trading activities.

Business in the Cayman Islands also gains additional advantages of recruiting a highly educated workforce. Since English is the official language, it would be easier for international companies to set up here. Also, a multicultural workplace could be formed as many people residing in the Cayman Islands are of different nationalities.

If you would like to learn more about how to open a business in the Cayman Islands, contact us at [email protected]. We will give you recommendations and all information you need.

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