December 1, 2021

Tips for entrepreneurs moving to the Cayman Islands

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A resort in the Cayman Islands with a blue sky and palm trees in the distance – unsplash

The Cayman Islands have long drawn visitors as one of the world’s top international financial centers and tourism attractions. They are pretty easy to get to and from because of their convenient location, south of Cuba. This is especially true now that the Cayman Islands’ border has officially reopened! It is not surprising many entrepreneurs moving to the Cayman Islands choose it for conducting their business. There are various reasons for such a decision. However, we will not get into these reasons right now. We will provide you with some tips to make the most out of everything the Cayman Islands have to offer. 

1. Easily obtain a CEC work visa

If you want to start a business but don’t want to be limited in who you can hire, or if you want to relocate your company yet keep your current staff – the Cayman Islands are perfect for you. However, this location is also great for the Distributed Workforce – employees in the same organization working from different countries.

Obtaining a CEC (Cayman Enterprise City) work visa is one of the most critical tasks you’ll need to complete. With this visa, you won’t be limited to recruiting only local applicants. Instead, you will have access to a diverse pool of individuals with the qualities you are looking for. Fortunately, obtaining this visa is relatively simple, especially since you may do so from the comfort of your own home. You can receive a renewable work/residency visa after only five days! Following that, you’ll be free to bring with you an unlimited number of employees and family members.

A group of 4 coworkers talking while one is sitting at a desk, representing entrepreneurs moving to the Cayman Islands.- unsplash

2. Enjoy the mild COVID-19 restrictions

One of the many great benefits for entrepreneurs moving to the Cayman Islands is the government’s fairly mild restrictions on their residents. Wearing a mask is obligatory here. However, public meetings and gatherings outside are restricted to 250 people, while up to 100 people can gather inside. Restaurants, bars, gyms, and hair salons, to name a few, are also open to the public with certain precautions set in place for your safety.

If you want to start a business somewhere where you can go out and enjoy the beautiful weather, the Cayman Islands are the place to go. Now is the time to start planning your international move by getting a reliable ally for your relocation in the form of a mover. With the help of a trustworthy moving company, you will be one step closer to enjoying the great outdoors while staying safe and well. 

It is important to remain careful, wash your hands, and sanitize whenever possible, even in the Cayman Islands.- unsplash

3. Gain access to cutting-edge IT  infrastructure

The Cayman Islands are very well-known for their cutting-edge IT infrastructure. This infrastructure is particularly advantageous because it is readily available to entrepreneurs moving to the Cayman Islands. It’s no surprise that Cayman Enterprise City won numerous rewards, given that its initiative made all of this possible! In addition, three economic zones were developed due to this initiative, which has boosted enterprises in three fields: technology, finance, and transport.

You will have no trouble getting high-speed internet access for all of your needs. Additionally, offshore hosting and payment gateways are what you might expect here as well. While in the Cayman Islands, you will also have the chance to meet tech entrepreneurs just like you. Who knows, maybe you’ll be able to form partnerships and learn from one another.

4. Work tax-free

Working tax-free is, without a doubt, a dream come true for any entrepreneur. As an entrepreneur in the Cayman Islands, you will not be haunted by corporate income or capital gains taxes. If your company has a global focus, you are in luck. The lack of local corporate income tax will help you stay competitive. Furthermore, if you decide to sell your business, you will not be liable to capital gains tax.

The Cayman Islands are very tax neutral for their residents as well. As residents, you will not have any income, payroll, and property tax to worry about! As a result, the Cayman Islands could be the ideal location for your dream home. When it comes to this, thankfully, this place provides a lot of possibilities, and you will quickly contact movage-moving.com to help you relocate your belongings into your new home. As you can see, the Cayman Islands are suitable for both your professional and personal needs.

Tax season has never been easier while living in the Cayman Islands. – unsplash

5. Get residency by investing

One crucial thing you can take advantage of is the ability to get residency by investing. The Cayman Islands are an enticing location to invest in real estate because of their aforementioned tax-neutral stance. It also has no restrictions when it comes to foreign ownership of property. Furthermore, you will not need an alien landholding license. All of this would be for naught if there weren’t abundant options to choose from when selecting real estate to invest in. From beach villas to private homes and estates, there are many different kinds of properties. The Cayman Islands will be able to scratch any property itch you may have.

6. Reap all the personal benefits

It would be impossible not to mention all the personal benefits the Cayman Islands have to offer. In many cases, we have to take a step back and improve our work and life balance. The Cayman Islands will help you with this by offering many hobbies, activities, and events you can take part in. Many of them are also enjoyable for the whole family!

There are plentiful restaurants, bars, cafes, gyms, spas, and other amenities. Additionally, a high-quality healthcare system is readily available. Your children’s educational needs will also not suffer here with numerous world-class educational facilities. 

Entrepreneurs moving to the Cayman Islands will not have to sacrifice their private life for the benefit of their business. So take a chance and call the Cayman Islands your home.

 Meta description: Many entrepreneurs moving to the Cayman Islands might be unaware of everything this location has to offer. Here are some tips that might help you!

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