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Article: Higher Paid Jobs in the Cayman Islands

Discussion forum for expats moving to or living in the Cayman Islands.

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Article: Higher Paid Jobs in the Cayman Islands

Post Posted: Wed Jul 10, 2013 4:00 pm

The Cayman Islands provide an enviable opportunity for English-speaking professionals to live in a 'tropical paradise', and one that has the highest living standard within the entire Caribbean region (and the 14th highest per capita GDP in the world) at that. The Islands' population, all told, is under 60,000 people with 100 square miles of territory, and it would seem that tropical cyclones present more of a threat here than the usual host of urban social problems (indeed, hurricanes are not to be taken lightly here either, as some of the more famous instances have caused several billion dollars' worth of damage on the islands). Expatriate employees on the islands can justifiably take pride in contributing to their prosperity, since they do make up over 40% of the total workforce, and largely power both the finance and tourism industries.

The Caymans, like many islands of their size, have a reputation for being an offshore banking center - it is one of the world's most notable hedge fund locations, and perhaps the fifth largest banking center overall - so work in the financial industry seems to be a feasible option for the foreseeable future.

It should be noted, however, that the islands have come under scrutiny from no less than the current U.S. president for their use as a tax haven for multinational corporations (albeit shortly after the wake of the 2008 financial meltdown). Hedge funds seem to have decreased by 10-20% recently, despite the registration of offshore shell companies being back to near record levels...

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