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Many business owners believe that choosing an establishment for business is as easy as putting down a finger on the map. However, it’s not as simple as you may think. Regardless of the nature of your business, the geographical area plays a vital role in your success. After all, choosing the right one can be highly lucrative; but if opted wrong, it can do way more damage than good.
This is why through the content of this article, we will demonstrate which region of the Cayman Islands is best suited for your business. But before jumping to the best-suited vicinity, let’s first understand why incorporating a company in Cayman is a prodigious decision.
3 Reasons Why You Should Register Your Business in Cayman
A Stable Political System With No Tax
A stable society and a business-friendly government are one of the attractive aspects of setting up a business in Cayman. On top of that, to ease up instituting a company, Cayman’s government has formed the Cayman Island Monetary Authority (CIMA), the Cayman Islands Blockchain Foundation, and the Cayman Finance to draw attention to the growing fintech and digital business.
In fact, Cayman is completely tax-neutral, meaning all the residents have to pay no tax on personal as well as corporate income. This, in turn, helps business owners enhance their operations’ profitability and offer much more liquid capital, thereby improving the cash flow. Hence with the saved disposable income, proprietors are likely to reinvest in the company and strengthen its structure to the next level.
Welcoming and Supportive Community
Relocating to an unexplored environment can be an overwhelming experience, although not in the case of Cayman. This gorgeous community is incredibly welcoming and supportive to new residents.
Furthermore, this little paradise has various cultural, culinary, arts, educational, and sporting events for you to interact and socialize with the individuals residing there. Additionally, this diverse land has multiple service sectors, like hospitality, legal, technology, healthcare, trade, banking, and more.
With the myriad of industrial options, these islands provide growing economic opportunities for aspiring entrepreneurs and companies looking forward to expanding internationally.
The Cayman Enterprise City Zone
This award-winning effect started back in 2012, stating the perks to the business owners that they are 100% exempt from corporate tax, income tax, sales tax, capital gains tax, and unrestrictive import duties.
The Cayman Enterprise City (CEC) effect supports the execution of an organization exceptionally quickly, efficiently, and at a cost-effective value.
Since you know why constituting a company is remunerative in Cayman, we will head toward the neighborhoods wherein you can speculate over kick-starting your enterprise.
3 Most Favorable Business Localities in the Cayman Islands
West Bay Road
Our very first location is home to the world’s top Seven Mile Beach and the Caribbean’s first New Urbanism Community, Camana Bay.
Behind Camana Bay is a 685-acre premise featuring more than 800,00 Sq.ft of elite commercial, retail, residential, recreational, and educational properties, making it an adequate pool of properties for sale in the Cayman Islands.
West Bay is an ideal alternative for every business segment as it gives an ultimate work-life balance, and this is an inviting neighborhood showcasing mesmerizing beachfront views.
This spot also presents you with the local charm of Grand Cayman. So, if you want a stable commercial workspace with a splendid environment, this place is for you!
Seven Mile Beach
Let’s start by saying this charming beauty is more than just the Caribbean’s best beach. Not only can you have leisure time over here, but it is an excellent location to do business.
Seven Mile Beach is jammed with classy resorts and hotels, and it even has a retail business park offering a 127,000 Sq.ft office area and a series of shops, diners, cafes, and restaurants.
Most tenants residing here are in the fiduciary and banking sector, but this site is also for a medical university and clinical therapy. And you don’t have to stress about finding a suitable commercial space because there are enough Seven Mile Beach properties for sale.
This capital of Cayman is the financial hub and a favorite port of call for cruise ship passengers. Upon that, the bustling, compact George Town is a business, dining, boozing, and shopping center of Grand Cayman.
This town has the Islands plaza, a famous retail building filled with duty-free shopping products consisting of renowned brands like Swarovski, Pandora, and Diamonds Direct.
Besides being a shopping hub, this plaza has a trendy Caribbean restaurant called Jimmy Buffet’s Margaritaville. Right around the corner, there is a flagship building, a mix of retail on the bottom and offices on the top levels.
The square feet herein vary from 1,800 to 2,900. Apart from a range of restaurants and amenities, this district is majorly occupied by primary offshore banks, global law firms, and the courthouse of Cayman. George Town is a marvelous pick for growing your business to considerable heights.
Our Advice to You?
Are you planning to lay down the foundation of your business for the first time in the Cayman Islands? Then we suggest you get in touch with the Cayman Islands real estate company. Their team of professionals will facilitate you from head to toe. What’s more? You don’t actually have to come down to Cayman because their experts will do the job for you.