Cayman Islands

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Cayman Islands

(kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three low-lying islands in the West Indies. George TownGeorge Town,
town (1989 pop. 12,921), capital and administrative center of the Cayman Islands, in the West Indies. A major offshore banking and business center, it is the site of several hundred banks.
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, the capital and chief port, is on Grand Cayman; the other islands are Little Cayman and Cayman Brac. The British monarch is the head of state, and is represented by a governor. There is an 18-seat Legislative Assembly; the government is headed by the premier. The Cayman Islands are divided into eight administrative districts.

The largely Christian, English-speaking population is about 40% mixed European and African ancestry, 20% white, and 20% black. Finance and luxury tourism are the economic mainstays of the islands, which are an international center for offshore banks, insurance companies, and mutual funds. Almost all goods are imported, primarily from the United States.

The islands were sighted by Christopher Columbus in 1503, but were colonized by the British beginning in the 1800s. Administered from JamaicaJamaica
, independent state within the Commonwealth (2005 est. pop. 2,732,000), 4,232 sq mi (10,962 sq km), coextensive with the island of Jamaica, West Indies, S of Cuba and W of Haiti. Jamaica is the largest island in the Caribbean after Cuba and Hispaniola.
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 after 1863, they became a separate British crown colony when Jamaica became independent in 1962. In 2004, Hurricane Ivan brought widespread destruction to the islands.

Cayman Islands

 

a British possession in the West Indies, in the Caribbean Sea. The territory consists of the Grand Cayman, Little Cayman, and Cayman Brae islands. Area, 259 sq km. Population, 10, 600 (1970 census). The inhabitants are Creoles, Negroes, and mulattoes; more than 80 percent live on Grand Cayman. Administrative center, Georgetown.

The islands are governed by a representative of the British crown. The main industries are agriculture, catching caimans and turtles, salt mining, and tourism. The Caymans were discov-ered by Christopher Columbus in 1503.

References in periodicals archive ?
A Royal Cayman Islands Police Service statement says there appear to be no suspicious circumstances surrounding the death, but an investigation was ongoing Friday.
Categories: Tax Policy and Administration, Banking law, Data collection, Data integrity, Financial management, Financial markets regulation, Financial regulation, Foreign corporations, Foreign governments, Funds management, International agreements, International cooperation, International relations, Investment companies, Investments, Investments abroad, Jurisdictional authority, Lending institutions, Reporting requirements, Securities, Tax administration, Tax evasion, Taxes, Taxpayers, Cayman Islands
1 -- color) Surrounded by palms, and featuring a swim-up bar, one of the multilevel pools at the Westin Casuarina is adjacent to an inviting beach on Grand Cayman Island.
The Cayman Islands had asked a number of British passport-holding players, not previously capped by their own countries, to play for them.
This will present opportunities, including for the Cayman Islands, and we will work closely with you to ensure that your interests are protected.
3 -- 4 -- color) Above, a sea turtle puts on a show for divers off the uncrowded Little Cayman Island in the British West Indies.
The Cayman Islands, including Grand Cayman, Little Cayman and Cayman Brac, are a British overseas territory northwest of Jamaica.
As it seeks to make its operations simpler and more efficient, Deutsche Bank has made a strategic decision to sell its banking and custody business in the Cayman Islands and Channel Islands, and will refer its clients to Butterfield to which they will have the opportunity to transfer their banking relationships.
With a core team of professionals based in the Cayman Islands and market-leading restructuring, forensic accounting, valuation and investigation experts located across 28 countries worldwide, FTI Consulting is uniquely well-positioned to assist clients with interests in international fund structures by providing bespoke solutions that take into consideration local issues, customs, time zones, languages and business practices.
Most money laundering in the Cayman Islands is related to foreign criminal activity and involves fraud, tax evasion, and drug trafficking.
An overview of the insurance regulatory framework in the Cayman Islands
This park has been designed to attract maritime services businesses to assist in the establishment of the Cayman Islands as the largest maritime cluster in the region.

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