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Doing business & staying in touch

Business suits are recommended when calling on senior officials and local heads of business and also for semi-formal or formal functions. Exchange of business cards is usual. It is generally easy to gain access to offices of senior government officials, politicians and business executives. Civil servants are excluded from accepting gifts, except for diaries or calendars at Christmas. Monetary gifts or expensive presents are not encouraged in the private sector.

Office hours: 

Mon-Fri 0900-1700.

Economy: 

The Cayman Islands have no direct taxation and have become important as an offshore financial centre and a tax haven. Good communications and infrastructure have also helped the islands become the world's fifth-largest banking centre. A key agreement on information exchange signed with the US government has spared the Cayman Islands many of the problems (money laundering and large-scale tax avoidance) that have bedevilled other aspirant offshore financial centres.

Tourism is the islands' other main source of revenue. There is little agriculture, and most food for the islands is imported. Industry is confined to construction and food-processing.

The standard of living on the islands is one of the highest in the world, and the per capita income is the highest in the region. The healthy state of the economy and the rapid development of tourism have attracted migrant workers from Jamaica, Europe and North America.

The Cayman Islands have associate membership of at the Caribbean Common Market (CARICOM).
Many hotels have conference facilities. Contact the Cayman Islands Department of Tourism for details (see Contact Addresses).

GDP: 

US$46,500 per capita (2006).

Main exports: 

Financial services, tourism.

Main imports: 

Machinery, food, fuel and chemicals.

Main trading partners: 

USA, UK, and Caribbean Community (CARICOM) countries.

Staying in touch in Cayman Islands

Telephone: 

A system with pre-paid phonecards is available (www.cw.ky).

Mobile phone: 

Roaming agreements exist with a few international mobile phone companies. Coverage is average.

Internet: 

There are many Internet cafes throughout the Cayman Islands and most hotels also offer Internet facilities. Wi-Fi Internet Access is available in some hotels.

Post: 

Blue mail collection boxes are at key points around Grand Cayman. The main post office is on Edward Street and Cardinal Avenue, George Town (tel: 949 2474). There are various branches across the islands, including at the West Shore Centre on West Bay Road. Stamps are available in most shops and hotels.

Post office hours: 

Mon-Fri 0830-1530, Sat 0830-1130.

Media: 


Press: 

• The Cayman Net News and Caymanian Compass are published daily.

Television: 

• Four TV stations are on the air in the Caymans, two of them run by religious organisations.
• ITN Cayman 27 is a private TV station.
• Cable and satellite are popular with the islanders.

Radio: 

• Private radio station Z-99 and government-owned Radio Cayman, which operates two networks.
• Other stations are CayRock 96.5, Heaven 97 (Christian), Rooster (country), Vibe FM 98.9 (reggae and pop), and ICCI-FM, run by journalism students.

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