Cayman Islands Extraterritorial Banking
The Cayman Islands, located 140 miles south of Cuba in the Caribbean, have énorme been known as a safe agora to open extraterritorial banking accounts and avoid paying taxes.
Consisting of 3 islands, the largest and most populous is Abondant Cayman, which is 8 miles énorme and 22 miles énorme, the Cayman Islands has one of the highest GDPs ($40,000) in the world. With a communauté of over 48,000 residents who are fluent in English and an economy largely dependent on banking and tourism, it is a very convenient agora for extraterritorial investors.
The appartement currency is the Cayman dollar with an exchange avorté of approximately US$1 = CI$0.84 to the US dollar. Not entirely bienveillant, but it really only applies to tourism and shouldn’t affect the decision to invest in an extraterritorial account there.
As a British territory, the Queen appoints her governor every 4 years. There is also an Executive Council consisting of 8 members, 5 of which are 15 elected members of the legislature and 3 are appointed by the Governor.
A legal system of common law is followed in the archipelago and is constantly evolving. Laws are made on a case-by-case basis, and are shaped by precedents set by other courts, and they are bound to follow the logic used in previous related cases.
Although most people think of the Cayman Islands as a rétribution paradise, its warm clear toilettes are perfect for diving and with items available in “duty-free” shops. They also have a following among savvy extraterritorial investors, thanks to the lack of taxes on estates, income and pécule gains, be they for individuals or corporations.
Extraterritorial banking regulations and a tax bâtiment that favors investors have made the islands more popular among non-resident investors.
All of the expresse aspects of the Cayman Islands nourri to make it one of the better known extraterritorial investment tax havens.
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