Relocate to The Cayman Islands
Those who call Cayman 'home' enjoy the ideal Caribbean lifestyle; beautiful beaches, climate and waters, with the highest standard of living in the Caribbean.
With financial services, natural beauty, first class diving, tranquility, and an accessible array of services, it's easy to see how the Cayman Islands are simultaneously an attractive home and a wonderful place to visit. Each year, a remarkable 1.5 million visitors travel to the Cayman Islands to enjoy its unparalleled Caribbean amenities and economic prosperity. Many that come to visit return to reside. The current population is estimated at 60,000.
Over the last 30 years the Cayman Islands have matured into one of the world's largest international financial centres. This has been achieved through providing the services, infrastructure and operational flexibility which the international investor demands. Service industries such as construction, hotel and restaurant management and watersports companies also contribute to the economic stability.
Changing jobs is often as stressful event. Relocating to the Cayman Islands or any new country throws up a new set of challenges:
Travel Costs – Many employers will cover plane ticket and relocation expenses, while others just give an advance. Normally there is some sort of payback clause if a worker breaks a contract before it is up. Employers who require employees to fund the whole move themselves should be avoided. Remember that there is a shortage of workers in the Cayman Islands.
Initial Housing – Most decent employers will arrange some sort of accommodation for an employee’s first few weeks on the island.
Permanent Housing – Unlike some other offshore jurisdictions foreigners are permitted to buy real estate in Grand Cayman. Most people, however, prefer to rent initially.
Seaboard Marine – www.seaboardmarinecayman.ky offer competitive rates and fast, friendly service for all their Shipping facilities.
A local Government hospital and private hospital provide modern medical facilities and are staffed with doctors and nursing staff. Government and private dental facilities are also available as are several private medical clinics and opticians. Employers are mandated by law to provide health insurance and share the expense with their employees. While the quality of medical care is high on the island, air ambulance service to Miami is available when necessary. Executive Air, a local company, maintains a roster of some 20 air ambulance providers and can order a custom-equipped ambulance in accordance with instructions from an attending physician. Generally the air ambulance can be in the Cayman Islands within two hours.
There is a wide choice of primary and secondary school education offered by Government and private institutions, including Baptist, Church of God, Catholic, and Presbyterian schools. Secondary education in Government schools is run on the British examination system with the private schools varying between British and U.S. education. Caymanian children are entitled to free primary and secondary education, and expatriate students can be enrolled at Government schools on a space-available basis (which is quite limited). The Government-owned Community College, the International College of the Cayman Islands (ICCI) and the Cayman Islands Law School offer tertiary courses of study.
Tax & Duty
There are no taxation or currency exchange controls in the Cayman Islands. However, import duties are levied on virtually all imported goods at a rate of 20-25 percent; motor vehicles are subject to duty ranging from 27.5 to 40 percent, depending on their value. There is no personal income tax in Cayman, no capital gains tax and no property taxes. When one purchases a property you pay a government stamp duty.
Local full service banks include Scotia Bank, Royal Bank of Canada, Bank of Butterfield, Cayman National Bank, and others. Most offer both U.S. and CI checking and savings accounts, CDs in a variety of currencies, ATM services, and some issue local credit cards. All banks operate on a "know your customer" basis and require references before opening an account. Large amounts of cash are not accepted for deposit at any local banks. Go to the Ecay Business Directory for a full list of Cayman Islands Banks.
Sporting and Other Activities
The water and beaches provide unparalleled opportunities for all water sports, especially diving, snorkeling, swimming, sailing, and fishing. Second-hand equipment is usually available at reasonable prices. During the off-season, a full set of dive equipment may be obtained for approximately $500. The following sporting clubs are well established on the Island: Cayman Squash Racquets Association, Cayman Islands Rugby Club, British Sub Aqua Branch, Grand Cayman Yacht Club, a Football League Association, Cricket Association, Tennis Club, Badminton Club, Ball Hockey Association, and Darts League. The Island has three golf courses. They consist of two 18 hole courses and one 9 hole course and training centre. Most internationally known service clubs are represented on the island as well as many societies and associations such as a Drama Society, National Choir, Caledonian Society, and Chamber of Commerce.
Most hotels provide evening entertainment such as live bands, comedians, and karaoke shows. There are also nightclubs on the Island that cater to both the resident and tourist population. The islands have radio stations which broadcast a mixed variety of music and programs of local and international interest. There are around 15 radio stations which is amazing for such a small population and they cater to every taste from Caribbean music, to rock, country, easy listening and so on. Local wireless cable television service is available at rate from approximately CI$65 upwards per month plus installation charge. Nowadays a huge variety of channels are available. Most condos provide either satellite TV or subscribe to the local cable service which provides a wide choice of channels. Video rentals are available from Blockbuster Video in the U.S. VHS and DVD formats. Blockbuster has two locations one in the West Shore Mall and One at the Grand Harbour Shopping Centre in Red Bay.
There are two movie theatres now in Grand Cayman; one at the Marquee Centre on Esterley Tibbetts Highway, just off Seven Mile Beach and a multi-plex cinema at Caymana Bay.