The Cayman Islands is home to the World’s 6th largest financial centre and holds pole position as the offshore hedge funds domicile globally. Cayman’s also hosts the world’s second largest captive insurance centre and is a world leader in structured finance.
To facilitate Cayman’s position as one of the best and most multi-faceted international financial centres, there are a plethora of law and accountancy firms, including the Big 4 and the Magic Circle, supporting the financial services industry here. The emphasis on hedge funds also brings with it fast-paced industry development regarding money laundering and tech risk for example, as the industry takes the challenges of keeping ahead of the market requirements in its stride. Whilst the Cayman Islands is probably best known for being tax neutral, investing here has significantly more depth to it than tax and the banking system is well developed, especially trusts.
The political system is stable which in turns results in a stable economy. There is a well-regulated financial infrastructure in Cayman and the Cayman Islands Monetary Authority (CIMA) and Mutual Funds Law are well respected within the financial community around the world for their oversight and emphasis on compliance. More importantly, for a professional considering a move here, Cayman is business friendly and growing in terms of international investment and business opportunity. So not only is Cayman a fantastic place to live, it’s also a thriving business metropolis.
Essentially, moving to paradise can also further your career progression. The big 4 accountants have been operating out of the Cayman Islands for decades and there are a range of excellent law firms. Whether you are looking to work for one of the multi-national firms or a local boutique firm, there is plenty to choose from and Affinity Recruitment has the best contacts in the industry.
The Cayman Islands follow the UK/English law framework but firm’s welcome candidates from multiple jurisdictions. Half the jobs in the Cayman Islands support the financial services industry, partnered by Cayman’s other big economic pillar, tourism. The two provide an energetic and sociable working and living environment that is hard to beat. There is no commute, no tube or train journey, even when you work a long day, the calm, turquoise ocean is minutes away.
The benefit of being in the Caribbean, on a small island full to the brim with excellent eateries, outdoor activities and fresh ocean air, adds a quality of life that is unachievable in other financial centres. Networking and professional socializing are easy to accomplish here too, as Cayman’s high-end restaurant/bar scene offers the perfect backdrop to working after hours. Cayman is therefore unique from this aspect, combining all elements of life on its beautiful shores. Not only is moving to Cayman an excellent professional opportunity but it’s also the most amazing opportunity to try a new lifestyle.