Cayman Island Offshore Banking

The Cayman Islands, 140 miles south of Cuba in the Caribbean have long in a safe place to offshore banking open account and avoid the payment of taxes known.

Consisting of 3 islands, with the largest and most densely populated with the Grand Cayman, which is 8 miles wide and 22 miles long, the Cayman Islands have one of the highest GDP ($ 40,000) in the world. With a population of more than 48,000 residents who are fluent in English and an economy that depends largely onBanking and tourism, it is a very accommodating place for offshore investors.

The local currency is the Cayman dollar, which has an exchange rate against the U.S. dollar from around U.S. $ 1 = $ 0.84 CI. Not exactly cheap, but it is really only for tourism and should not affect the decision to invest in offshore accounts there.

As a territory of the British, the Queen appointed governor, all 4 years. There is also an Executive Council with 8 members, 5 of themselected from the 15 elected members of the Legislative Assembly and 3, who are appointed by the Governor.

A legal system of common law is followed in the islands, and is continually being developed. Laws are on a case-by-case basis and are formed by precedents set by other courts, and they are obliged to follow the reasoning used in connection with previous cases.

While most people think of the Cayman Islands as a holiday paradise with its warm, clear waters ideal for scuba divers and ArticlesSave available on the "duty free". They also have a following among experienced offshore investors, by the absence of taxes on property, income and capital gains, regardless of whether they are for individuals or businesses.

Offshore banking and a tax structure that favored the investor has the better one of these islands do not know at the - non-resident investors.

All the positive aspects of the Cayman Islands come together to make it one of the known offshore --Investment tax havens.

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