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EncyclopediaCayman Islands > Transnational-issues

Cayman Islands
Flag of the Cayman Islands Coat of arms of the Cayman Islands
Flag Coat of arms
Motto
"He hath founded it upon the seas"
Anthem
God Save the Queen
Capital
(and largest city)
George Town
19°20′N, 81°24′W
Official languages English
Government Constitutional monarchy
 -  Queen Queen Elizabeth II
 -  Governor Stuart Jack
 -  Leader of
Government Business

Kurt Tibbetts
Creation
 -  Split from Jamaica 1962 
Area
 -  Total 260 km² (206th)
100.4 sq mi 
 -  Water (%) 1.6
Population
 -  2005 estimate 45,017 (208th)
 -  1999 census 39,020 
 -  Density 139.5 /km² (63rd)
364.2 /sq mi
HDI (2003) n/a (NA) (unranked)
Currency Cayman dollar (KYD)
Time zone (UTC-5)
 -  Summer (DST) not observed (UTC-5)
Internet TLD .ky
Calling code +1-345

The Cayman Islands are a British overseas territory located in the western Caribbean Sea, comprising the islands of Grand Cayman, Cayman Brac, and Little Cayman. It is a global offshore financial services centre and one of the leading tourist scuba diving destinations in the world. Image File history File links Flag_of_the_Cayman_Islands. ... Image File history File links Cayman_Islands_coat_of_arms_large. ... Flag Ratio: 1:2 The flag of the Cayman Islands was adopted in 1959. ... The Cayman Islands coat of arms consists of a shield, a crested helm and the motto. ... A motto (from Italian) is a phrase or a short list of words meant formally to describe the general motivation or intention of an entity, social group, or organization. ... A national anthem is a generally patriotic musical composition that is evoking and eulogizing the history, traditions and struggles of its people, recognized either by a nations government as the official national song, or by convention through use by the people. ... Publication of an early version in The Gentlemans Magazine, 15 October 1745. ... Image File history File links Country locator map for Cayman Islands Originally created for the English wikipedia by User:Vardion File links The following pages link to this file: Cayman Islands User:DanielZm/test Template:Cayman Islands Infobox ... This article is about a city that serves as a center of government and politics. ... Population: 34,763 (July 2000 est. ... George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies. ... An official language is a language that is given a unique legal status in the countries, states, and other territories. ... The English language is a West Germanic language that originates in England. ... This does not cite any references or sources. ... The British monarchy is a shared monarchy; this article describes the monarchy from the perspective of the United Kingdom. ... Elizabeth II (Elizabeth Alexandra Mary Windsor; born 21 April 1926) is Queen of sixteen sovereign states, holding each crown and title equally. ... There have been nine governors of the Cayman Islands: Kenneth Roy Crook (August 22, 1971 _ 1974) Thomas Russell (1974 _ 1981) George Peter Lloyd (1982 _ 1987) Alan James Scott (1987 _ September 14, 1992) Michael Edward John Gore (September 14, 1992 _ October 16, 1995) John Wynne Owen... Stuart Duncan Macdonald Jack, CVO (born 1949-06-08) has been Governor of the Cayman Islands since 2005-11-23. ... The post of Leader of Government Business in the Cayman Islands is the equivalent to Chief Minister or Premier in most British colonies. ... Kurt Tibbetts has represented the district of George Town in the Legislative Assembly of the Cayman Islands since 1992. ... Area is a physical quantity expressing the size of a part of a surface. ... To help compare different orders of magnitude and geographical regions, we list here areas between 100 km² and 1000 km². See also areas of other orders of magnitude. ... This is a list of the countries of the world sorted by area. ... A square mile is an English unit of area equal to that of a square with sides each 1 statute mile (≈1,609 m) in length. ... Impact from a water drop causes an upward rebound jet surrounded by circular capillary waves. ... A percentage is a way of expressing a proportion, a ratio or a fraction as a whole number, by using 100 as the denominator. ... This is a list of countries ordered according to population. ... Population density by country, 2006 Population density is a measurement of population per unit area or unit volume. ... Population density by country, 2006 List of countries and dependencies by population density in inhabitants/km². The list includes sovereign states and self-governing dependent territories that are recognized by the United Nations. ... World map indicating Human Development Index (2004). ... Coloured world map indicating Human Development Index (2006) (colour-blind compliant map) This is a list of countries by Human Development Index as included in the United Nations Development Programmes Human Development Report 2006, compiled on the basis of 2004 data. ... The currency of the Cayman Islands is the Cayman Dollar, and the Cayman Islands Currency is issued by the Cayman Islands Monetary Authority (CIMA) as established by law in January 1997. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... A time zone is a region of the Earth that has adopted the same standard time, usually referred to as the local time. ... Coordinated Universal Time (UTC) is a high-precision atomic time standard. ... Though DST is common in Europe and North America, most of the worlds people do not use it. ... Coordinated Universal Time (UTC) is a high-precision atomic time standard. ... A country code top-level domain (ccTLD) is a top-level domain used and reserved for a country or a dependent territory. ... .ky is the Internet country code top-level domain ( ccTLD) for Cayman Islands. ... A telephone number is a sequence of decimal digits (0-9) that is used for identifying a destination telephone line in a telephone network. ... The area code (345) is the local telephone area code of Cayman Islands. ... A United Kingdom overseas territory (formerly known as a dependent territory or earlier as a crown colony) is a territory that is under the sovereignty and formal control of the United Kingdom but is not part of the United Kingdom proper (almost exclusively Great Britain and Northern Ireland). ... Map of Central America and the Caribbean Caribbean Sea from space (top left). ... Grand Cayman from space, April 1994 Grand Cayman is the largest of the three Cayman Islands at about 196 km² and contains the capital George Town. ... Cayman Brac is an island that lies about 143 km northeast of Grand Cayman in the Caribbean Sea. ... Little Cayman Marine Life on Bloody Bay Wall Little Cayman is the smallest of the three Cayman Islands, both in area and population. ... An offshore financial centre (or OFC), although not precisely defined, is usually a low-tax, lightly regulated jurisdiction which specialises in providing the corporate and commercial infrastructure to facilitate the use of that jurisdiction for the formation of offshore companies and for the investment of offshore funds. ... Scuba diving is swimming underwater while using self-contained breathing equipment. ...

Contents

History

The Cayman Islands were first sighted by Christopher Columbus on May 10, 1503 during his disastrous fourth and final voyage to the New World. He named them Las Tortugas after the numerous sea turtles there. The first recorded English visitor to the islands was Sir Francis Drake, who landed there in 1586 and named them the Cayman Islands after the Neo-Taino nations term (caiman) for crocodile (Zayas, 1914). Christopher Columbus became the first westerner to visit the Cayman Islands on May 10, 1503 and named them Las Tortugas after the numerous sea turtles there. ... Christopher Columbus (1451 – May 20, 1506) was a navigator and maritime explorer credited as the discoverer of the Americas. ... is the 130th day of the year (131st in leap years) in the Gregorian calendar. ... Year 1503 (MDIII) was a common year starting on Sunday (link will display the full calendar) of the Julian calendar. ... Frontispiece of Peter Martyr dAnghieras De orbe novo (On the New World). Carte dAmérique, Guillaume Delisle, 1722. ... Genera Family Cheloniidae (Oppel, 1811) Caretta Chelonia Eretmochelys Lepidochelys Natator Family Dermochelyidae Dermochelys Family Protostegidae (extinct) Family Toxochelyidae (extinct) Family Thalassemyidae (extinct) Sea turtles (Chelonioidea) are turtles found in all the worlds oceans except the Arctic Ocean, and some species travel between oceans. ... Sir Francis Drake, c. ... Neo-taino nations are defined here as the assorted nations of the Caribbean islands, that together with the Tainos, were described on the arrival of European chroniclers or which arose after this historic record was established. ...


The first recorded permanent inhabitant of the Cayman Islands, Isaac Bodden, was born on Grand Cayman around 1700. He was the grandson of the original settler named Bodden who was probably one of Oliver Cromwell's soldiers at the taking of Jamaica in 1655. Grand Cayman from space, April 1994 Grand Cayman is the largest of the three Cayman Islands at about 196 km² and contains the capital George Town. ... Oliver Cromwell (25 April 1599 – 3 September 1658) was an English military and political leader best known for his involvement in making England, Scotland and Ireland into a republican Commonwealth and for the brutal war exercised in his conquest of Ireland. ...


The islands, along with nearby Jamaica, were captured, then ceded to England in 1670 under the Treaty of Madrid. They were governed as a single colony with Jamaica until 1962 when they became a separate British Overseas Territory and Jamaica became an independent commonwealth realm. Motto Dieu et mon droit(French) God and my right Territory of the Kingdom of England Capital Winchester; London from 11th century Language(s) Old English (de facto, until 1066) Anglo-Norman language (de jure, 1066 - 15th century) English (de facto, gradually replaced French from late 13th century) Government Monarchy... The Treaty of Madrid adopted in 1670 was a treaty between England and Spain. ... A United Kingdom overseas territory (formerly known as a dependent territory or earlier as a crown colony) is a territory that is under the sovereignty and formal control of the United Kingdom but is not part of the United Kingdom proper (almost exclusively Great Britain and Northern Ireland). ... The Commonwealth Realms, shown in pink A Commonwealth Realm is any one of the sixteen sovereign states within the Commonwealth of Nations that recognise Elizabeth II as their respective monarch. ...


The island of Grand Cayman was hit by Hurricane Ivan on September 11-12, 2004, which destroyed many buildings and damaged 70% of them. Power, water and communications were all disrupted for a period of time as Ivan was the worst hurricane to hit the islands in 86 years. However, Grand Cayman promptly engaged in a major rebuilding process, and within two years its infrastructure was nearly returned to pre-Ivan levels. The Cayman Islands have the dubious honor of having experienced the most hurricane strikes in history. Due to the proximity of the islands, more hurricane and tropical systems have affected the Cayman Islands than any other region in the Atlantic basin (brushed or hit every 2.23 year. Source: Hurricanecity.com http://www.hurricanecity.com/city/caymanislands.htm). The area is expected to be hit again this hurricane season (2007). The Cayman Islands currently enjoy one of the highest standards of living in the Caribbean region, aided by thriving tourism and banking industries. Lowest pressure 910 mbar (hPa) Damage $19. ... “West Indian” redirects here. ... Tourists on Oahu, Hawaii Tourism is travel for predominantly recreational or leisure purposes or the provision of services to support this leisure travel. ... For other uses, see Bank (disambiguation). ...


Geography

Map of the Cayman Islands
Map of the Cayman Islands

The Cayman Islands are located in the western Caribbean Sea. They are the peaks of a massive underwater ridge, known as the Cayman Trench, standing 2,400 m (8000 feet) from the sea floor, which barely exceeds the surface. The islands lie in the centre of the Caribbean south of Cuba and West of Jamaica. But even Grand Cayman, the largest of the three islands, is not visible on many maps. They are situated about 480 miles (770 km) south of Miami, 150 miles (240 km) south of Cuba, and 180 miles (290 km) northwest of Jamaica. Grand Cayman is by far the biggest, with an area of 76 square miles (197 km²). The two "Sister Islands" of Cayman Brac and Little Cayman are located about 90 miles (145 km) east of Grand Cayman and have areas of 14 square miles (36 km²) and 10 square miles (25.9 km²) respectively. Image File history File links Cayman_Islands-CIA_WFB_Map. ... Image File history File links Cayman_Islands-CIA_WFB_Map. ... Location: Caribbean, island group in Caribbean Sea, nearly one-half of the way from Cuba to Honduras Geographic coordinates: 19 30 N, 80 30 W Map references: Central America and the Caribbean Area: total: 259 km² land: 259 km² water: 0 km² Area - comparative: 1. ... Map of Central America and the Caribbean Caribbean Sea from space (top left). ... A mile is a unit of length, usually used to measure distance, in a number of different systems, including Imperial units, United States customary units and Norwegian/Swedish mil. ... A kilometer (Commonwealth spelling: kilometre), symbol: km is a unit of length in the metric system equal to 1,000 metres (from the Greek words χίλια (khilia) = thousand and μέτρο (metro) = count/measure). ... For other uses, see Miami (disambiguation). ... Grand Cayman from space, April 1994 Grand Cayman is the largest of the three Cayman Islands at about 196 km² and contains the capital George Town. ... A square mile is an English unit of area equal to that of a square with sides each 1 statute mile (≈1,609 m) in length. ... Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of SI unit of surface area square metre, one of the SI derived units. ... Cayman Brac is an island that lies about 143 km northeast of Grand Cayman in the Caribbean Sea. ... Little Cayman Marine Life on Bloody Bay Wall Little Cayman is the smallest of the three Cayman Islands, both in area and population. ...


All three islands were formed by large coral heads covering submerged ice age peaks of western extensions of the Cuban Sierra Maestra range and are mostly flat. One notable exception to this is The Bluff on Cayman Brac, which rises to 140 feet (42.6 m) above sea level, the highest point on the island. A foot (plural: feet or foot;[1] symbol or abbreviation: ft or, sometimes, ′ – a prime) is a unit of length, in a number of different systems, including English units, Imperial units, and United States customary units. ... The metre (American English:meter) is a measure of length. ...


Cayman avian fauna includes two endemic subspecies of Amazona parrots: Amazona leucocephala hesterna, or Cayman Brac Parrot, native only to Cayman Brac, and Amazona leucocephala caymanensis or Grand Cayman Parrot, which is native only to Grand Cayman. Another notable fauna is the endangered Blue Iguana, which is native to Grand Cayman. Trinomial name Amazona leucocephala caymanensis (Cory, 1886) The Grand Cayman Parrot Amazona leucocephala caymanensis is a parrot that only lives on the Caribbean island of Grand Cayman. ... Binomial name Cyclura lewisi (Grant, 1940) The Blue iguana (Cyclura lewisi) is a critically endangered animal that lives on the island of Grand Cayman. ...


Districts

Districts of the Cayman Islands
Districts of the Cayman Islands

Administratively, Grand Cayman (the largest island) is divided into five districts: Image File history File links Download high resolution version (1025x624, 6 KB) Summary Map of the districts of the Cayman Islands. ... Image File history File links Download high resolution version (1025x624, 6 KB) Summary Map of the districts of the Cayman Islands. ... Local government areas called districts are used, or have been used, in several countries. ...

  1. George Town (the present capital)
  2. East End
  3. North Side
  4. West Bay
  5. Bodden Town (the former capital)
  6. Cayman Brac and Little Cayman, combined, form the 6th district of the Sister Islands.

George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies. ... Bodden Town, Grand Cayman is a former capital and second-largest city in the Cayman Islands. ...

Demographics

The latest population estimate of the Cayman Islands is about 45,436 as of July 2006, representing a mix of more than 100 nationalities. Out of that number, about half are of Caymanian descent. About 60% of the population is of mixed race (mostly mixed African-European). Of the remaining 40%, about half are of european descent and half are of African descent. The islands are almost exclusively Christian, with large number of Presbyterians and Anglicans. Caymanians enjoy one of the highest standards of living in the West Indies. The vast majority of the population resides on Grand Cayman. Cayman Brac is the second most populated with about 2,000 residents, followed by Little Cayman with around 200 permanent residents. [6] Population: 34,763 (July 2000 est. ... World map showing location of Africa A satellite composite image of Africa Africa is the worlds second_largest continent in both area and population, after Asia. ... Topics in Christianity Movements · Denominations Ecumenism · Preaching · Prayer Music · Liturgy · Calendar Symbols · Art · Criticism Important figures Apostle Paul · Church Fathers Constantine · Athanasius · Augustine Anselm · Aquinas · Palamas · Luther Calvin · Wesley Arius · Marcion of Sinope Pope · Archbishop of Canterbury Patriarch of Constantinople Christianity Portal This box:      A Christian () is a person who... Presbyterianism is part of the Reformed churches family of denominations of Christian Protestantism based on the teachings of John Calvin which traces its institutional roots to the Scottish Reformation, especially as led by John Knox. ... The Anglican Communion uses the compass rose as its symbol, signifying its worldwide reach and decentralized nature. ...


The capital and major city of the Cayman Islands is George Town, which is located on the south west coast of Grand Cayman. George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies. ...


Economy

The economy of the Cayman Islands was once centered around turtling. However, this industry began to disappear in the twentieth century and tourism and financial services began to become the economic mainstays during the 1970s. The United States is the Cayman Islands' largest trading partner. To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... Turtling is the hunting of turtles, a practice formerly a big part of the economy in many nations of the West Indies. ...


With an average income of around $42,000, Caymanians enjoy the highest standard of living in the Caribbean. According to the CIA World Factbook, the Cayman Islands GDP per capita is the 8th highest in the world.[7] The islands print their own currency, the Cayman Islands Dollar (KYD), which is pegged to the U.S. dollar at a fixed rate of 1 KYD = 1.227 USD. Thus, the C.I. Dollar's rate of exchange with all other world countries is directly tied to the U.S. dollar's rate of exchange with those same countries. World Factbook 2004 cover The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ... It has been suggested that this article or section be merged with Cayman Islands dollar. ... The United States dollar is the official currency of the United States. ...


The government's primary source of income is indirect taxation. An import duty of 20% is levied against goods imported into the islands. Few goods are exempt; notable examples include books, cameras and baby formula. Duty on automobiles is charged on a sliding scale with the duty reaching 40% for expensive models. The government charges a flat licensing fee to financial institutions that operate in the islands. A small fee is also charged to each tourist that arrives on the islands. The term indirect tax has more than one meaning. ... An infant being fed by bottle. ...

Panorama of Seven Mile Beach on Grand Cayman Click image for full-scale viewing.

Image File history File links Download high resolution version (11744x968, 1684 KB) Summary Picture taken by me, early may 2006. ... Image File history File links Download high resolution version (11744x968, 1684 KB) Summary Picture taken by me, early may 2006. ... Image File history File links No higher resolution available. ... Seven Mile Beach (Grand Cayman) Seven Mile Beach (Kiama) This is a disambiguation page, a list of pages that otherwise might share the same title. ... Grand Cayman from space, April 1994 Grand Cayman is the largest of the three Cayman Islands at about 196 km² and contains the capital George Town. ...

Tourism

Tourism accounts for 70-75% of the annual GDP of the Cayman Islands. Of the millions of tourists that visit the islands annually, 99% visit Grand Cayman. George Town also serves as a major cruise ship port, which brings in 4,000 to 22,000 tourists a day, five days a week, depending on the number of ships in port. Pacific Sky sails under Sydney Harbour Bridge A cruise ship or a cruise liner is a passenger ship used for pleasure voyages, where the voyage itself and the ships amenities are considered an essential part of the experience. ...


One of Grand Cayman's (GCM) main attractions is the world-famous Seven Mile Beach on which a number of the island's hotels and resorts are located. Seven Mile Beach is regarded by many as one of the best beaches in the world. Historical sites in GCM such as Pedro St. James Castle in BoddenTown also attract visitors. The Sister Islands - Little Cayman and Cayman Brac - also supply their own unique charm. Grand Cayman from space, April 1994 Grand Cayman is the largest of the three Cayman Islands at about 196 km² and contains the capital George Town. ... Seven Mile Beach (SMB) is a long crescent of coral-sand beach on the western shore of Grand Cayman island. ...


The Cayman Islands is regarded as one of the world's best SCUBA diving destinations because of its crystal-clear waters and pristine walls. Cayman Brac and Little Cayman are also elite SCUBA dive destinations. There are several snorkeling locations where tourists can swim with stingrays including the popular Stingray City, Grand Cayman. Divers find two shipwrecks off the shores of Cayman Brac particularly interesting including the MV Keith Tibbetts. Scuba diving is swimming underwater while using self-contained breathing equipment. ... Cayman Brac is an island that lies about 143 km northeast of Grand Cayman in the Caribbean Sea. ... Little Cayman Marine Life on Bloody Bay Wall Little Cayman is the smallest of the three Cayman Islands, both in area and population. ... Genera Dasyatis Himantura Pastinachus Pteroplatytrygon Taeniura Urogymnus See text for species. ... Stingray City is a misnomer because there are no buildings, streets, or automobiles; however, there are an abundance of stingrays to be found and tourists can feed, swim, and interact with the animals. ... Shipwreck of the SS American Star Shipwreck in the Saugatuck River mouth in Westport, Connecticut A shipwreck or sunken ship can refer to the remains of a wrecked ship or to the event that caused the wreck, such as the striking of something that causes the ship to sink, the...


Other Grand Cayman tourist attractions include the ironshore landscape of Hell, the 24- acre marine theme park Boatswain's Beach, also home of the Cayman Turtle Farm, the production of gourmet sea salt, and the Mastic Trail, a hiking trail through the forests in the centre of the island. On Cayman Brac, a lighthouse and a few local museums are tourist draws. Little Cayman's wildlife attracts nature lovers, especially bird watchers in search of the island's Red-footed Booby population. Hell, Grand Cayman is a group of odd ironshore limestone formations on the northwest Grand Cayman that got its name when a local official exclaimed This is what Hell must look like. ... The boatswain on a modern merchant ship supervising cargo operations. ... This article or section does not adequately cite its references or sources. ... A HDR image of a traditional lighthouse For other uses, see Lighthouse (disambiguation). ... Binomial name Sula sula (Linnaeus, 1766) Red-footed Boobies on Palmyra Atoll. ...

See also: Scuba diving in the Cayman Islands

The three islands of the Cayman Islands are the exposed top of an underwater mountain. ...

Financial services industry

The Cayman Islands is widely recognized to be one of the world's leading offshore financial centres. An offshore financial centre (or OFC), although not precisely defined, is usually a low-tax, lightly regulated jurisdiction which specialises in providing the corporate and commercial infrastructure to facilitate the use of that jurisdiction for the formation of offshore companies and for the investment of offshore funds. ...


The Cayman Islands financial services industry encompasses banking, mutual funds, captive insurance, vessel registration, companies and partnerships, trusts, structured finance and the Cayman Islands Stock Exchange. As of December 2005, just over 70,000 companies were incorporated on the Cayman Islands including 430 banking and trust companies, 720 captive insurance firms and more than 7,000 funds. For other uses, see Bank (disambiguation). ... The central idea of a mutual fund is to enable investors to pool their money and place it under professional investment management. ... Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, although they sometimes also insure some of the risks of the parent companys customers. ... A company in the broadest sense is an aggregation of people who stay together for a common purpose. ... In the common law, a partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which they have all invested. ... A trust company has been referred to as a near-bank; while technically it differs from a bank in mandate and services offered, it also provides banking services such as chequing accounts, savings and loans, investments and credit cards. ... The Cayman Islands Stock Exchange (CSX) is a stock exchange based in Grand Cayman on the Cayman Islands. ... Incorporation (abbreviated Inc. ... For other uses, see Bank (disambiguation). ... Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, although they sometimes also insure some of the risks of the parent companys customers. ...


A recent report released by the International Monetary Fund (IMF) assessing supervision and regulation in the Cayman Islands' banking, insurance and securities industries, as well as its anti-money laundering regime, recognized the jurisdiction's comprehensive regulatory and compliance frameworks. "An extensive program of legislative, rule and guideline development has introduced an increasingly effective system of regulation, both formalising earlier practices and introducing enhanced procedures," noted IMF assessors. The report further stated that "the supervisory system benefits from a well-developed banking infrastructure with an internationally experienced and qualified workforce as well as experienced lawyers, accountants and auditors," adding that, "the overall compliance culture within Cayman is very strong, including the compliance culture related to AML (anti-money laundering) obligations...". The Cayman Islands had previously (briefly) appeared on the FATF Blacklist in 2000, although its listing was thought to be harsh, and was criticised at the time.[1] This article needs additional references or sources to facilitate its verification. ... Securities are tradeable interests representing financial value. ... Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... For information on the type of fish called Lawyer, see the article on Burbot. ... Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ... Audit can refer to: Telecommunication audit Financial audit Performance audit Completion of a course of study for which no assessment is completed or grade awarded; especially audit is awarded to those who have elected not to receive a letter grade for a course in which letter grades typically awarded. ... Anti-money laundering is a term mainly used in the finance and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. ... The FATF Blacklist is the common shorthand description for the Financial Action Task Force list of Non-Cooperative Countries or Territories (NCCTs); that is, countries which it perceives to be non-cooperative in the global fight against money laundering and terrorist financing. ...


Government

The Cayman Islands are currently a British overseas territory, listed by the UN Special Committee of twenty-four as one of the last non-self governing territories. A fifteen-seat Legislative Assembly is elected by the people every four years to handle domestic affairs. Of the elected Members of the Legislative Assembly (MLAs), five are chosen to serve as government ministers in a cabinet headed by the governor. The head of government is the Leader of Government Business, which is currently The Honourable Kurt Tibbetts. The Cayman Islands physical isolation under early British colonial rule allowed the development of an indigenous set of administrative and legal traditions which were codified into a constitution in 1959. ... A Legislative Assembly in some parts of the Commonwealth refers to a legislature, or a chamber of the legislature. ... The post of Leader of Government Business in the Cayman Islands is the equivalent to Chief Minister or Premier in most British colonies. ... Kurt Tibbetts has represented the district of George Town in the Legislative Assembly of the Cayman Islands since 1992. ...


A Governor is appointed by the British government to represent the monarch. The governor can exercise complete executive authority if they wish through blanket powers reserved to them in the constitution. They must give royal assent to all legislation, which allows them the power to strike down any law the legislature may see fit for the country. In modern times, the governor usually allows the country to be run by the cabinet, and the civil service to be run by the Chief Secretary, who is the Acting Governor when the Governor is not able to discharge his usual duties for one reason or another. The current governor of the Cayman Islands is Stuart Jack and the current Chief Secretary is The Honourable George McCarthy, OBE, JP. The flag of the Governor of the Cayman Islands The Governor of the Cayman Islands is the representative of the British monarch in the United Kingdoms overseas territory of the Cayman Islands. ... Stuart Duncan Macdonald Jack, CVO (born 1949-06-08) has been Governor of the Cayman Islands since 2005-11-23. ... Mr. ...


Following the collapse of the Euro Bank Corporation in 2003, constitutional modernisation has become the predominant issue in the Islands' politics. The prosecution in the related trial was forced to reveal that MI6, on behalf of the British government and with the consent of the Governor, had planted moles (and used wire taps) throughout the Islands' banking industry. This caused the trial's collapse and subsequent release of those charged with wrongdoing. The only mole known at the time was allowed to leave the country, never to answer for what he (or the United Kingdom) had done. This infuriated the elected members of the legislative assembly as they maintained that the governor and the United Kingdom had put into question Cayman's reputation as a tightly regulated offshore jurisdiction. Some saw this as the United Kingdom meddling in the territory's affairs to benefit itself (and the EU), at the expense of the islands' economy. The Secret Intelligence Service (SIS), more commonly known as MI6 (originally Military Intelligence Section 6), or the Secret Service, is the United Kingdom external security agency. ...


Constitutional talks however went on hold following Hurricane Ivan in 2004. Subsequently, in May 2005, the ruling UDP was ousted by the PPM, which have slowed the constitutional modernisation process to a standstill. Among the points of contention is whether or not the new constitution should include a bill-of-rights. The Peoples Progressive Movement is a political party in Barbados without parliamentary representation. ...


Taxation

Caymanians and Caymanian companies are not subject to any form of direct taxation. However, an import tax of between 5% and 20% is levied on almost all imported goods.


Education

The Cayman Islands Education Council operates state funded schools on the island, with a Caribbean-oriented education curriculum. Caymanian children are entitled to free primary and secondary education. Various churches and private foundations operate several private schools offering curricula derived from American and UK education systems from kindergarten to twelfth grade. Grand Cayman is also home to St. Matthew's University, which includes a medical school and a school of veterinary medicine.


The Cayman Islands Law School (CILS), a branch of the University of Liverpool in the UK, is also based on Grand Cayman. Situated in George Town, the law school has been in operation since 1982. As taken from the student handbook, "The Law School provides tuition for both full and part-time programmes leading to the Bachelor of Law (Honours) Degree of the University of Liverpool and the qualification of Attorney-at-Law of the Cayman Islands, following successful completion of the postgraduate Professional Practicum Course (PPC)


Grand Cayman is home to University College of the Cayman Islands, the only government run University on the island. (http://www.ccci.edu.ky). The University College is located at 168 Olympic Way in Georgetown, Grand Cayman. The International College of the Cayman Islands http://www.icci.edu.ky/ which is located in Newlands about seven miles east of George Town. The college was established in 1970 and offers Associate's, Bachelor's and Post Graduate degree programs.


Healthcare

The Cayman Islands have a modern healthcare system. There are two hospitals in George Town, the government run George Town Hospital and the smaller, private Chrissie Tomlinson Memorial Hospital. Additionally, Faith Hospital is a small (eighteen-bed) facility on Cayman Brac. The Government maintains a satellite clinic on Little Cayman.


Health insurance is handled by private insurers and a government-run company (CINICO). There is no universal health coverage as in the UK. All employers are required under Law to provide Health Insurance for their employees (although the employee may be required to contribute 50% of the premium). Full time employees also contribute USD 10 every month to the "Indigent Fund" which helps cover care for the unemployed, elderly etc.


Currently the islands lack facilities for cardiac catheterization, though many feel the population is large enough to support the procedure. Various attempts to establish a cath lab in George Town Hospital have stalled out. Similarly, the Caymans have lacked an MRI since one was destroyed during Hurricane Ivan. Cardiac catheterization (heart cath) is the insertion of a catheter into a chamber or vessel of the heart. ... The mri are a fictional alien species in the Faded Sun Trilogy of C.J. Cherryh. ...


Ophthalmology services on Grand Cayman remain below North American standards. Only very basic general ophthalmic care is currently available.


Work permits

In order to work in the Cayman Islands as a non-citizen, a work permit is required. This involves passing a police background check and a health check. A prospective worker will not be granted a permit if certain medical conditions are present. Nor are work permits issued after age 60.


The Cayman Islands presently imposes a controversial "rollover" policy in relation to expatriate workers who require a work permit. Non-Caymanians are only permitted to reside and work within the Territory for a maximum of seven years (non-renewable) unless they satisfy the criteria of key employees. The policy has been the subject of some controversy within the press,[2] and concerns have been expressed that in the long term, the policy may damage the pre-eminence of the Cayman Islands as an offshore financial centre by making it difficult to recruit and retain experienced staff from onshore financial centres. Government employees are no longer exempt from this "rollover" policy according to this report in a local newspaper [8]. The Governor has decided to use his constitutional powers, which give him absolute control for the disposition of civil service employees, to determine which expatriate civil servants are dismissed after seven years service and which are not. This article does not cite any references or sources. ... An offshore financial centre (or OFC), although not precisely defined, is usually a low-tax, lightly regulated jurisdiction which specialises in providing the corporate and commercial infrastructure to facilitate the use of that jurisdiction for the formation of offshore companies and for the investment of offshore funds. ... This article does not cite any references or sources. ...


This policy is enshrined in the Immigration Law (2003 revision), written by the UDP government, and subsequently enforced by the PPM government. Both governments agree to the term limits on foreign workers, and the majority of Caymanians also agree it is necessary to protect local culture, and heritage from being eroded by a large number of foreigners gaining residency/citizenshp. [9]


Military

The defence of the Cayman Islands is the responsibility of the United Kingdom. The Islands have their own police force, the Royal Cayman Islands Police Service, and in 2001 the small Cayman Islands Cadet Corps was formed in the place of a traditional army. Regular off-shore marine patrols are conducted by the RCIP and Grand Cayman is a port of call for the United States Coast Guard. Military branches: Royal Cayman Islands Police Service (RCIPS) Military - note: defense is the responsibility of the United Kingdom The Cayman Island Cadet Corps was formed in march, 2001. ... For the band, see The Police. ... The Royal Cayman Islands Police Service The Royal Cayman Islands Police Service is the standing police force of the British overseas Territory of The Cayman Islands. ... The Cayman Islands Cadet Corps formed in 2001 was established as paramilitary youth organization in the Cayman Islands with the main aim of citizenship training utilizing military type activities. ... This article or section is in need of attention from an expert on the subject. ... Marine is an umbrella term for things relating to the ocean, as with marine biology, marine geology, and as a term for a navy, etc. ... Typically, a port of call is a city or town in a country being visited by sea; if it is the first a vessel visits in that country, the vessel and all passengers and crew must clear in with local authorities there. ... USCG HH-65 Dolphin USCG HH-60J JayHawk The United States Coast Guard (USCG) is a branch of the United States armed forces and is involved in maritime law enforcement, mariner assistance, search and rescue, and national defense. ...


Foreign relations

The foreign relations of the Cayman Islands are largely managed from the United Kingdom, as the islands remain an overseas territory of the UK. However, the Government of the Cayman Islands often resolves important issues with foreign governments alone, without intervention from Britain. Although in its early days, the Cayman Islands' most important relationships were with Britain and Jamaica, in recent years, this has shifted, and they now rely more so on the United States. The foreign relations of the Cayman Islands are largely managed from the United Kingdom, as the islands remain an overseas territory of the UK. However, the Government of the Cayman Islands often resolves important issues with foreign governments alone, without intervention from Britain. ...


Though the Cayman Islands are involved in no major international disputes, they have come under some criticism due to the use of their territory for narcotics trafficking and money laundering. In an attempt to address this, the Government entered into the Narcotics Agreement of 1984 and the Mutual Legal Assistance Treaty of 1986 with the United States, in order to reduce the use of their facilities associated with these activities. In more recent years, they have stepped up the fight against money laundering, by limiting banking secrecy, introducing requirements for customer identification and record keeping, and requiring banks to cooperate with foreign investigators. Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ... The Mutual Legal Assistance Treaty is an agreement between the two foreign countries, for the purpose of gathering and exchanging information in an effort to enforce criminal laws. ...


Due to their status as an overseas territory of the UK, the Cayman Islands have no representation either on the United Nations, or in most other international organizations. However, the Cayman Islands still participates in some international organizations, being a full member of the Central Development Bank, International Olympic Committee and FIFA, an associate member of Caricom and UNESCO, and a member of a sub-bureau of Interpol. The foundation of the U.N. The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, social progress and human rights issues. ... Stamp The International Olympic Committee (French: Comité International Olympique) is an organization based in Lausanne, Switzerland, created by Pierre de Coubertin and Demetrios Vikelas on June 23, 1894. ... The International Federation of Football Association (French: ), commonly known by its acronym, FIFA, is the international governing body of association football. ... The Caribbean Community and Common Market or CARICOM was established by the Treaty of Chaguaramas which came into effect on August 1, 1973. ... UNESCO (United Nations Educational, Scientific and Cultural Organization) is a specialized agency of the United Nations established in 1945. ... This article does not cite any references or sources. ...


See also

The Scout Association of the Cayman Islands operates as a branch of the United Kingdom Scout Association, due to the Cayman Islands affiliation as a Crown Colony of the United Kingdom. ... First international Cayman Islands 2 - 1 BVI (Basseterre, SK&N; May 10, 1991) Biggest win Cayman Islands 5 - 0 BVI (Grand Cayman, Cayman Isls. ... X107. ...

Footnotes

  1. ^ The FATF's 2000 report itself acknowledged that "the Cayman Islands has been a leader in developing anti-money laundering programmes throughout the Caribbean region. It has served as president of the CFATF, and it has provided substantial assistance to neighbouring states in the region. It has demonstrated co-operation on criminal law enforcement matters, and uncovered several serious cases of fraud and money laundering otherwise unknown to authorities in FATF member states." Inferences were drawn that the list had been drawn up as an attack on tax havens, and that the inclusion of a leading offshore financial centre was necessary for political purposes.
  2. ^ Law firms have been particularly upset by the recruitment difficulties that it has caused. [1] Other less well remunerated employment sectors have been affected as well. [2] Concerns about safety have been expressed by diving instructors [3] and realtors have also expressed concerns. [4] Others support the rollover as necessary to protect Caymanian identity in the face of large immigration of expatriate workers. [5]

A tax haven is a place where certain taxes are levied at a low rate or not at all. ...

References

is the 185th day of the year (186th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... World Factbook 2004 cover The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ... is the 185th day of the year (186th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...

External links

Geographic locale
International membership