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The Cayman Islands

The ISO code of The Cayman Islands is KY according to ISO 3166 standard. The local name of the country is Cayman Islands. George Town is the capital city of The Cayman Islands. The official language of The Cayman Islands is English. In the year 1962, The Cayman Islands emerged as a sovereign political entity.

The Cayman Islands is located in the UTC -05:00 time zone, which is also called Eastern Standard Time or EST. The internet country code top-level domain (ccTLD) for The Cayman Islands is .ky. The International dialing code for The Cayman Islands is +1345. People in The Cayman Islands drive on the left side of the road. Total land area of The Cayman Islands is 264,00 km2. The Cayman Islands is not a landlocked country.

The Cayman Islands is located in the caribbean part of North America. The Cayman Islands is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently The Cayman Islands faces various issues including absence natural fresh water resources, drinking water supplies must be met by rainwater catchments.

Doing business in The Cayman Islands

We offer various corporate services in The Cayman Islands jurisdiction. These services can serve both, people coming from The Cayman Islands and foreigners. If you plan on doing business in The Cayman Islands you might be interested in contacting us.

To find out about starting your business in The Cayman Islands click on company formation in The Cayman Islands.

To find out how to open a bank account in The Cayman Islands and moreover what type of account Confidus Solutions suggests to create, please click on bank account in The Cayman Islands.

Choose preferred service below or continue reading to find out more about The Cayman Islands.

Company formation Bank account (Corporate) Available banks Bank account (Private)

Demographics of The Cayman Islands

The total population of The Cayman Islands is 58 238 people. In The Cayman Islands, the population density is 214 people per square kilometer (557 per square mile). Because of this statistic, this country is considered to be crowded. The Cayman Islands has 21 620 million foreign immigrants. The median age is approximately 39.5 years. In The Cayman Islands, 74.13 in every 100 people use internet.

The main religion of The Cayman Islands is Christianity. The Cayman Islands is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of The Cayman Islands.

Culture of The Cayman Islands

People in The Cayman Islands speak English language. According to data on inbound tourists in The Cayman Islands, 345 000 tourists arrive in the country each year. One of the most popular national dishes of The Cayman Islands is conch chowder. To read more click on culture of The Cayman Islands.

Geography of The Cayman Islands

The Cayman Islands is considered a small nation because of its total area. Its total land area is 264,00 km2 (approx. 102 mi2). The Cayman Islands is located in the caribbean part of North America. Its capital city is George Town. Total length of land borders of The Cayman Islands is 0,00 kilometers (~0.00 miles).

The highest point of The Cayman Islands is The Bluff with its official height being 46 m (151 ft). The most notable natural resources found in The Cayman Islands are fish, pleasant climate, beaches. To read more click on geography of The Cayman Islands.

Economy of The Cayman Islands

The currency of the country is CaymanIslands dollar. The symbol used for this currency is $, and it is abbreviated as KYD. 4% of population in the country are unemployed. The total number of unemployed people in The Cayman Islands is 2 329. Each year, The Cayman Islands exports around $0.01 billion and imports roughly $0.72 billion. The Cayman Islands has a government debt of 20% of the country's Gross Domestic Product (GDP), as assessed in 2014. The Cayman Islands is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are tourism, banking, insurance and finance, construction, construction materials, furniture.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in The Cayman Islands is $ 2 billion. Each year, consumers spend around $1950,00 million. The ratio of consumer spending to GDP in The Cayman Islands is 63%, and the ratio of consumer spending to the world consumer market is 0%. The corporate tax in The Cayman Islands is set at 0%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level. To read more click on economy of The Cayman Islands.

Infrastructure of The Cayman Islands

In The Cayman Islands, 91% of the population has access to electricity. There are 23 472 internet hosts in The Cayman Islands. The Cayman Islands has 3,00 airports nationwide. To read more click on infrastructure of The Cayman Islands.

Politics of The Cayman Islands

The Cayman Islands is a parliamentary dependency under constitutional monarchy. The head of the government is Elizabeth II.

According to the World Bank Group, the government effectiveness index of The Cayman Islands is 1.16. In The Cayman Islands, the legislative power is vested in a legislative assembly. To read more click on politics of The Cayman Islands.

Environment of The Cayman Islands

The Cayman Islands emits 10.3 metric tons per capita of CO2. 120,00 km2 of The Cayman Islands's territory is covered in forests, and forest land comprises 45% of all the land in the country. To read more click on environment of The Cayman Islands.

Company formation in The Cayman Islands

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in The Cayman Islands.

When establishing a company in The Cayman Islands, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of The Cayman Islands that will affect the establishment and growth of one's business. Contact us or click on company formation in The Cayman Islands to read additional information when setting up a business.

Bank account opening in The Cayman Islands

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in The Cayman Islands. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in The Cayman Islands, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in The Cayman Islands or contact us.