CURRENCY & ECONOMY

The currency in The Cayman Islands is The Caymanian Dollar (KYD) which is pegged to the US Dollar at a fixed rate of 1 KYD to 1.25 USD.As a long term bastion of offshore banking and as a premier global tax haven, the Cayman Islands has an incredibly strong economy with low inflation based on international banking and high end tourism which has played a key role in the virtual elimination of poverty, homelessness, crime and unemployment on the islands.

The Cayman Island Stock Exchange

Thanks to this political, social and economic stability and their tax neutral jurisdiction; The Cayman Islands has its own Stock Exchange (The CSX) which is recognised as a leader in the offshore market.

Taxation

In terms of taxation, there are few places left in the World which are able to offer such a generous array of financial advantages and incentives as the Cayman Islands. There is no direct taxation in the Caymans meaning – amongst other advantages – that there is no income tax, no capital gains tax, no gift tax, no property tax, no corporation tax, no rates and no inheritance tax.

“I would encourage the media to take note of the positive performance indicators”

The Honourable Kurt Tibbetts,
Cayman Islands Leader of Government Business, October 2008