- Difficulty: Easy
- Cost: Economical
- Rest time: 1 Day
- Preparation time: 5 Minutes
- Portions: 4 people
- Cooking methods: Slow cooking
- Cuisine: Caribbean
- Seasonality: All seasons
Why are there no taxes in the Cayman Islands?
The Cayman Islands are a British Overseas Territory located in the Caribbean, between Cuba and Central America. They are just an hour’s flight from Miami;
There are no taxes in the Cayman Islands: state revenue comes from customs duties, stamp duty, and annual fees levied on companies.
There are no income taxes, property taxes, or corporate taxes. Therefore, unless there are tax obligations in other countries, it is possible to move to the Cayman Islands and eliminate your tax burden.
Currently, there are 149 banks in the Islands with deposits of about 1.5 trillion USD, making Cayman one of the largest offshore banking centers in the world.
Offshore banking transactions are relatively free from control, save for precautions against money laundering.
Residents and foreigners are treated equally. There are no taxes on the investment process.
Residents and foreigners are treated equally. There are no taxes on the investment process.
