Cayman Offshore Account

With a financial services industry that represents some 54 countries through regulated and reputable banks, the Cayman Islands account for over 80 percent of the USD $1 trillion deposited in the Cayman Islands.

Measures taken both at the local government and international financial regulatory bodies have sought to not only strengthen the financial services offered in the Cayman, but to ensure that the effective mechanisms were implemented to prevent the commitment of financial vices that undermine the potential and quality of the Cayman Islands as a premier offshore jurisdiction.

Given the capital worth of the Cayman Islands, people holding offshore accounts in the Cayman Islands are afforded access to a number of services extending from the provision of a broad range of Cayman Island offshore account to suit business and personal demands to trained professionals for counseling in matters involving asset management, investing wealth internationally and widening business scope.

Holding a Cayman Island offshore bank account affords the possibility of accessing funds for investment projects through a variety of financial services that are provided through offshore accounts in the Cayman Islands such as money market funds, loans and mortgages. Offshore accounts held in the Cayman can be used for specific purposes such as depositing personal savings, investing assets through fixed deposit savings, corporate savings and transactions and trade. Multicurrency Cayman Island accounts are an effective tool for commercial activities between countries and help to reduce losses that are incurred by currency exchanges and fickle exchange rates. Additionally, there are no exchange controls and funds placed in a Cayman Island offshore account can freely move in and out of the islands.

Cayman Island accounts can be used for doing business in an environment of privacy and corporate confidentiality. This curtails the risk of losing assets in lawsuits, debt settlement cases or divorces should the demands placed be severe and increase the possibility of losing all of one’s lifelong investments and funds.

Funds deposited in a Cayman account are free from tax on interests and are protected by privacy laws that ensure that the personal details of all reputable transactions and the owners of a Cayman offshore account are kept confidential. This is one of the most attractive features of a Cayman Island offshore account because it assists in tax planning as well as deferring taxes for use at a later date so as to provide funds for a particular event. One of the advantages of doing this is being able to utilize an offshore account in the Cayman as a form of insurance, which can serve as a lifeline in time of trouble.

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