About Cayman Islands
About Cayman Islands
Trusted Expertise, Global Reach – Your Fiduciary Partner in the Cayman Islands
The Cayman Islands, a British Overseas Territory, encompasses 3 islands in the western Caribbean Sea. Grand Cayman, the largest island, is known for its beach resorts and varied scuba diving and snorkelling sites. Cayman Brac is a popular launch point for deep-sea fishing excursions. Little Cayman, the smallest island, is home to diverse wildlife, from endangered iguanas to seabirds such as red-footed boobies.
Population
68,706
Language
English
Currency
Caymanian Dollar
Political Structure
The Cayman Islands are a British colony and therefore the United Kingdom Parliament at Westminster retains the right to legislate. A “Governor” who is appointed by the Queen Elizabeth II heads the Cayman Islands Government. There is a Legislative Assembly consisting of 18 seats: 3 appointed members from the Executive Council (Financial Secretary, the Attorney General and Administrative Secretary) and 15 members elected by the popular vote.
An Executive Council, consisting of three official members appointed by the Governor and four members elected by the Legislative Assembly, formulates policy and advises the Governor. Appointments are to a four-year term.
Infrastructure and Economy
The economy of the Islands is strong, enjoying full employment with most of the revenue being derived from the financial services sector and tourism. Miami is one hour away by air and the Island has direct air links with New York, Atlanta, Tampa, Houston and Jamaica. The Islands are a popular cruise-ship stop.
