Cayman Islands

corporate Bank Account

The Cayman Islands is a British overseas territory dependent on the United Kingdom. They are located northwest of Jamaica, between the island of Cuba and the coast of Honduras in the waters of the Caribbean Sea. The Cayman Islands is a member of the CARICOM single market.

The Cayman Islands is one of the 5 largest financial centers in the world by deposits, and the world’s largest financial center for investment funds, with the presence of the global largest financial institutions.

Main financial services available in the territory are private banking, hedge fund formation and investment, structured finance and securitization, captive insurance, and international business company services.

In the Cayman Islands, corporate profits and capital income as interest or dividends, as well as personal income, are not taxed. Actually, the only existing tax forms in the Cayman Islands are business license fees, customs duties, a stamp duty on the transfer of real estate and a tonnage fee for vessels. In addition to the tax advantages, Offshore companies in the Cayman Islands benefit from maximum confidentiality and easy accounting requirements.

We can help you open business and personal accounts with several international banks in Cayman Islands.
We work with 5 different banks in Cayman Islands, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.

Banking options in Cayman Islands

click the bank for more details

Butterfield Bank (Cayman)

Account Details

Corporate
Not Required
USD 100,000

Eligibility

Cayman National Bank

Account Details

Corporate
Not Required
USD 250,000

Eligibility

CIBC FirstCaribbean International Bank

Account Details

Corporate
Not Required
USD 25,000

Eligibility

NCB Cayman Limited

Account Details

Corporate
Not Required
USD 100,000

Eligibility

RBC

Account Details

Corporate
Not Required
USD 500,000

Eligibility

Country Details

Cayman Islands
KYD
George Town
North America
44,270

The Cayman Islands is a British Overseas Territory dependent on the United Kingdom and located northwest of Jamaica between the island of Cuba and the coast of Honduras in the waters of the Caribbean Sea. The Cayman Islands is a member of the CARICOM single market.

The 264-square-kilometer (102-square-mile) territory comprises three islands, Grand Cayman, Cayman Brac and Little Cayman, where about 69,000 people live, 55,000 of which live in its capital, George Town (Grand Cayman).

Its official currency is the Cayman Islands Dollar (KYD), pegged to the US dollar at a 1,227:1 ratio.

The Cayman Islands are a British overseas territory, designated by the UN Decolonization Committee as one of the last Non-Self-Governing Territories. The fifteen representatives who compose the Legislative Assembly are elected by the people every four years, they are in charge of managing the internal affairs. Of the elected members of the Legislative Assembly, five are elected to serve as ministers in a Cabinet headed by the Governor. The head of government is the Prime Minister.

The governor is appointed by the King/Queen of the United Kingdom on the advice of the British Government to represent the monarch.

The Cayman Islands has a solid economy, with one of the highest per capita income worldwide. Being also one of the most expensive places to live, since most products are imported and are subject to high tariffs.

Its main sectors are luxury tourism for its pristine beaches, scuba diving and high-end gastronomy, and offshore financial and insurance services, with hundreds of licensed banks, which handle about $500 billion in assets.

The Cayman Islands is one of the 5 largest financial centers in the world by deposits and the world’s largest financial center for investment funds, with the presence of the global largest financial institutions.

Main financial services available in the territory are private banking, hedge fund formation, and investment, trust services, structured finance and securitization, captive insurance, and international business company services.

Services & Fees

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.

Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).

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