CAPTIVE INSIGHT
The combination of a first class infrastructure, a highly developed corporate law framework
and a regulatory environment that is supportive for growth, has meant that investing in the
Cayman Islands has been as secure as it has been rewarding. With the perfect conditions in
place to flourish, international business has continued to gravitate towards the jurisdiction, which
has a long history of being recognised as having a comprehensive regulatory and compliance
framework resulting in positive reviews from global agencies such as the IMF and the OECD’s
Global Forum. The Government also has a strong record of introducing legislative enhancements
to the regulatory framework, such as the recently updated AML Regulations.Cayman’s record
as an early adopter of international tax transparency initiatives such as FATCA and CRS,
alongside 36 international Tax Information Exchange Agreements, provides further evidence of a
first class and stable specialist international financial centre.
From a banking standpoint, the sector adheres to industry best practice and is regulated
appropriately by CIMA, while domestically the Government has delivered strong and responsible
fiscal performance. The Cayman economy has had an exceptional run of positive GDP growth,
all of which has been beneficial in terms of attracting top-class international business to the
jurisdiction. Cayman Islands banks also continue to enjoy strong relationships with correspondent
banks, notwithstanding the global trend towards de-risking.
With a government committed to and supportive of growth and strength in the financial services
industry—which comprises of over 50 percent of economic activity—the Cayman Islands has
continued to thrive and its Aa3 rating from Moody’s is the highest in the region. The strength
of the banking sector has been pivotal to this success, as a supporting mechanism for the wider
financial industry and it will continue to provide first rate service to Cayman’s market leading
international insurance sector.
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