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Economy and Banking Sector of the Cayman Islands

Cayman Islands
Location
Caribbean Sea
EU Status
not part of the EU (OCT)

The Cayman Islands are a British overseas territory situated in the western Caribbean Sea.

Currency
KYD (Cayman Islands dollar)
Population  (2015)
60 413  (+0.04%)
Nominal GDP (2015)
2.8 bln KYD  (+0.03%)
Credit Ratings (as of May 2018)
-/Aa3

Tourism and offshore financial services are the most important sectors of the Cayman Islands' economy. The Islands are one of the major international financial centers.

Withholding tax rates in the Cayman Islands are 0.0-0.0 %. the Cayman Islands signed 1 double taxation agreements.
Cayman Islands signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Cayman Islands has FATCA agreement with the U.S. in effect since 29 November 2013 (Intergovernmental Agreement Model 1).

Number of Banks
149
Consolidated Banking Assets (2016)
1 035.66 bln USD  (-12.21%)
Deposit Guarantee
0 KYD

There are more than 150 banks registered on the Cayman Islands, including over 40 banks of the top 50 banks of the world.

See Also