The Cayman Islands has for decades been one of the world’s leading banking and financial centers, currently ranking as the fifth largest banking centre worldwide, with over 200 banks, including 40 of the world’s 50 largest banks, and over US$1.5 trillion in assets.
Politics and Government, Judiciary and Financial services review from Editor Michael Klein.
There is an underlying disdain currently being expressed globally, especially within North America and Europe, with regard to the way they are being taxed, with rising taxes choking investment choices and stifling growth. Such pressures have encouraged investors to look for better ways to seek investment returns.
There are many myths and misconceptions about the role that international finance centers, such as the British Virgin Islands and the Cayman Islands, play in international finance. Sadly, many common narratives about IFCs do nothing to dispel these myths.
The world has become global and this not only on business and private sides, but also family offices are seeking increasingly to get the most out of this international playing field at their hand.
The Cayman Islands economy grew for the third consecutive year in 2013, but fell short of government’s expectation until the third quarter of last year. The 1.2 percent gross domestic product growth at constant prices was less than the expected expansion of 1.5 percent for the year...