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Why the Cayman Islands Are Better For Business

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Why the Cayman Islands Are Better For Business

Why the Cayman Islands Are Better For Business

Presented by Cayman Enterprise City

On February 8, 1794, the people of the Cayman Islands rescued the crews of a group of ten merchant ships. The ships had struck a reef and run aground during rough seas.

Legend has it that King George III of the United Kingdom rewarded the Caymanians with a promise never to introduce taxes as compensation for their generosity, as one of the ships carried a member of the King’s own family.

Whether this legend is true or not, the Cayman Islands have a rich history of relying on indirect taxes, making it one of the best places to do business in the world.

5 Reasons It’s Worth Relocating a Company to the Caymans

1. Life is Grand

The Cayman Islands are an English-speaking Overseas British Territory with year-round warmth and state-of-the-art infrastructure and attractions.

Grand Cayman, the largest of the three islands, has an area of about 200 km².

Its most striking features include: the shallow, reef-protected lagoon called the North Sound, as well as the famous Seven Mile Beach along the west of the island.

  • GDP per capita: 14th in the world – The highest standard of living in the Caribbean.
  • Ranked ‘The friendliest place on earth to live and work’ in a recent HSBC expat global survey.
  • Ranked: “The Caribbean’s Best Beach” – Seven Mile Beach by Caribbean Travel & Life

2. The Ideal Business Jurisdiction

Located in the Eastern Standard Timezone and 3.5 hrs from Toronto and 3 hrs from New York City, Cayman is the ideal business jurisdiction. The island also has direct flights to London, the gateway to Europe.

The Cayman Islands have the some of the highest anti-money laundering compliance requirements and offers a pro-business regulatory environment.

3. Taxation

The Caymans have a long history of having no direct taxes on residents and Cayman Island companies.

  • No corporate tax
  • No capital gains tax
  • No sales tax
  • No income or payroll tax

This has partly allowed the Caymans to become the sixth largest global financial centre and the #1 home to hedge funds in the world.

4. A Gateway to World-Class Companies and Services

The Cayman Islands is home to many global institutions including banking, accounting, and law firms.
Companies in the Cayman:

  • 40 of 50 of the world’s top banks have branches
  • The Big 4 accounting institutions
  • Global law offices such as Maples & Calder

It has a world-class infrastructure, excellent schools, colleges and medical facilities, plus every conceivable form of entertainment, sporting, dining and leisure facility.

5. Special Economic Zones

The Cayman Islands have recently introduced “Special Economic Zones” that specifically cater to exempted companies, creating an alternative licensing regime, as well as a number of additional incentives for entities wishing to establish a physical presence in the Islands.

  • 100% exempt from corporate, capital gains, sales, income tax and import duties
  • 100% foreign ownership permitted
  • Five year renewable work/residence visas granted within 5 days
  • 3-4 week fast-track set-up of operations
  • Intellectual Property owned offshore
  • No government reporting requirements
  • Strategic base with easy access to lucrative North and Latin American markets

One More Reason: Cayman Enterprise City

Cayman Enterprise City (“CEC”) is an award-winning Special Economic Zone located in the tax-neutral Cayman Islands, created for knowledge-based industries and has developed into an innovative, entrepreneurial technology hub benefiting from a tax-exempt environment.

CEC has stripped away the red-tape and financial constraints normally associated with setting up an offshore Cayman company with a physical presence. CEC enables international companies to easily and cost-effectively set up offices with staff on the ground and have a genuine offshore physical presence and generate active business income in the Cayman Islands.

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Misc

Infographic: The Next Characters to Enter the Public Domain

This infographic shows which popular characters will be entering the public domain over the next 15 years.

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Infographic showing which popular characters that will enter public domain in coming years

The Next Characters to Enter the Public Domain

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Copyright is a type of intellectual property right that protects authors’ original works, meaning that their art cannot be used without approval. However, copyright protections do not last forever—eventually, all original work will enter the public domain.

In this graphic, we visualize the popular characters that are set to enter the public domain in the next 15 years, using data compiled from several sources.

How Does a Character Enter the Public Domain?

The amount of time a given work is protected by copyright varies, but this window typically lasts 70 years after the author’s death or 95 years after publication. Once the copyright expires, the work enters the public domain, signaling time for anyone to enjoy and interact with them without legal repercussions.

Which Characters Will Have Their Copyrights Expire Next?

The Brothers Grimm version of Snow White has already had its copyright expire. However, Disney’s iconic Snow White and the Seven Dwarfs version will only enter public domain in 2032.

On January 1st, 2024, the Steamboat Willie versions of Mickey and Minnie Mouse entered public domain (and already, content creators are seizing the opportunity). The modern version of Mickey Mouse will follow suit in roughly 15 years.

Below is a list of popular characters that will be entering the public domain in coming years.

CharacterYear expected to enter the public domain
Sleeping Beautyalready public domain
Snow Whitealready public domain
Pinocchioalready public domain
Peter Panalready public domain
Tinkerbellalready public domain
Captain Hookalready public domain
Winnie-the-Poohalready public domain
Mickey Mouse (Steamboat Willie version)already public domain
Minnie Mouse (Steamboat Willie version)already public domain
Popeye2025
Pluto2026
Betty Boop2026
Goofy2028
Donald Duck2029
King Kong2029
Snow White and the Seven Dwarves (Disney version)2032
Superman2034
Bugs Bunny2035
Batman2035
Joker2036
Captain America2036
Wonder Woman2037
Mickey Mouse (Disney version)2037
Bambie2038

Several of Mickey’s companions—including Pluto (2026), Goofy (2028), and Donald Duck (2029)—will be entering public domain in the next five years along with Betty Boop (2026), King Kong (2029), and Bugs Bunny (2035).

The copyright on many of DC Comics’ stars—like Superman, Batman, the Joker, and Wonder Woman—will expire in the 2030s.

If you found this interesting, check out this visualization on the world’s top media franchises of all-time by revenue.

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