Tax Haven Cayman Islands

About Tax Haven Cayman Islands

The Cayman Islands has no direct taxes. There is no income tax, corporate tax, capital gains tax, or inheritance tax. The territory hosts over 100,000 companies, more than twice its population. The Cayman Islands is the fifth largest banking center in the world by deposits. Hedge funds extensively use Cayman structures. The Cayman Islands has been pressured by the OECD and EU to increase transparency. In 2019, the EU placed the Cayman Islands on its tax haven blacklist, later removing it after reforms. The Cayman Islands introduced beneficial ownership registers for law enforcement but resisted public registries. The territory argues that it provides a legitimate financial service and complies with international standards.