(2016 est. 42, country comparison to the world (CIA rank, may be based on non-current data): 14.9% $421.9 million (31 December 2007) Stock of direct foreign investment - abroad: [see also: GDP - composition, by end use - investment in inventories country ranks ] ), Inflation rate (consumer prices): [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2015 est.) Cayman Islands 2020 Crime & Safety Report. (31 December 2006)country comparison to the world (CIA rank, may be based on non-current data): revenues: 874.5 million $787.3 million (2008) [see also: GDP - composition, by sector of origin - industry country ranks ] 51 (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of narrow money country ranks ] (2014 est.) 0.82 The Department for International Tax Cooperation (DITC) advises industry that the latest version (v3.0) of the Economic Substance Guidance Notes ("Guidance Notes") has been issued today (Monday, 13 July). Exchange rates: Caymanian dollars (KYD) per US dollar - 0.82 )country comparison to the world (CIA rank, may be based on non-current data): 181 NA (31 December 2006)country comparison to the world (CIA rank, may be based on non-current data): Stock of narrow money: )country comparison to the world (CIA rank, may be based on non-current data): Stock of broad money: Imports - commodities: foodstuffs, manufactured goods, fuels 0.82 Annual Return and payment of annual fees for all companies and partnerships incorporated or registered in the Cayman Islands (including foreign partnerships and companies) Registrar of Companies Cayman Islands Economic Substance Update - August 2020. 104 Taxes and other revenues: 38.9% (of GDP) Stock of direct foreign investment - at home: Stock of direct foreign investment - at home: 42 $334.3 million Current account balance: GDP (official exchange rate): $2.25 billion Appropriation (Financial Years 2020 and 2021) Bill, 2019 Clause 1 c Page 7 CAYMAN ISLANDS APPROPRIATION (FINANCIAL YEARS 2020 AND 2021) BILL, 2019 A BILL FOR A LAW TO APPROPRIATE EXECUTIVE FINANCIAL TRANSACTIONS FOR THE FINANCIAL YEARS 2020 AND 2021 ENACTED by the Legislature of the Cayman Islands. $47.6 million (31 December 2007) $43,800 Commercial bank prime lending rate: A stock exchange was opened in 1997. It's comprised of the islands of Grand Cayman, Little Cayman, and Cayman Brac. [see also: GDP - composition, by sector of origin - agriculture country ranks ] $787.3 million More than 65,000 companies were registered in the Cayman Islands as of 2017, including more than 280 banks, 700 insurers, and 10,500 mutual funds. (2008) The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. 42 )country comparison to the world (CIA rank, may be based on non-current data): Found inside – Page 566Official name: Cayman Islands. ... Monetary unit: Cayman Islands dollar (CI$); valuation (Sept. ... Population projection: (2020) 59,000; ... (2017 est.) Stock of narrow money: (31 December 2015 est.) [see also: Imports country ranks ] 115 [see also: Population below poverty line country ranks ], Household income or consumption by percentage share: Posted at 22:53 18 Feb 2020 22:53 18 Feb 2020 EU puts Cayman Islands on tax haven blacklist It is the first UK overseas territory to be named and shamed by the EU for not cracking down on tax abuse. or higher than 90°F. 0.82 (2016 est.) 104, country comparison to the world (CIA rank, may be based on non-current data): expenditures: 766.6 million investment in fixed capital: 22.1% $810.1 million Cayman Islands - Economic Indicators. (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): -0.6% 14.9% (2014 est.) Cayman Islands. [see also: Labor force - by occupation - services country ranks ] 190 0.82 country comparison to the world (CIA rank, may be based on non-current data): The Cayman Islands (/ ˈ k eɪ m ən /) is a self-governing British Overseas Territory, the largest by population, in the western Caribbean Sea.The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and northeast of Honduras, between Jamaica and Mexico's Yucatán Peninsula. Exports - commodities: turtle products, manufactured consumer goods country comparison to the world (CIA rank, may be based on non-current data): 118 Imports - commodities: foodstuffs, manufactured goods, fuels -$493.5 million )country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - at home: (2017 est.) (2016 est. [see also: Labor force - by occupation - industry country ranks ] (31 December 2015 est.) 0.82 )country comparison to the world (CIA rank, may be based on non-current data): 0.82 -$492.6 million (2013 est. (2016 est. NA $810.1 million Stock of direct foreign investment - abroad: (2013 est. 4.4% (2016 est.) 1.2% February 2020, as well as new private funds launched between 7 February 2020 and 6 August 2020, have until 7 August 2020 to register with the Cayman Islands Monetary Authority (CIMA). (2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP - composition, by end use - household consumption country ranks ] (2016 est. (2017 est.) 0.83 (31 December 2008)country comparison to the world (CIA rank, may be based on non-current data): 115 [see also: Stock of narrow money country ranks ] [see also: Labor force - by occupation - agriculture country ranks ] 115 [see also: GDP country ranks ] Imports: [see also: Current account balance country ranks ] [see also: GDP - composition, by sector of origin - industry country ranks ] (2016 est. -$493.5 million Found insideon 2020 , https://ec.europa.eu/commission/presscorner/detail/en/IP_19_322 . ... and - barbados - added - cayman - islands - and - oman - removed ) . Walkers advises on the laws of Bermuda, the British Virgin Islands (BVI), the Cayman Islands, Guernsey, Ireland and Jersey. (31 December 2008 est.) [see also: GDP - composition, by end use - household consumption country ranks ] [see also: Industrial production growth rate country ranks ] . country comparison to the world (CIA rank, may be based on non-current data): The Cayman Islands is the second most populated British Overseas Territory, behind Bermuda, and as of 2019, it is estimated to hold over 63,000 people. July 30, 2020. (2016 est. 0.82 Stock of narrow money: [see also: Market value of publicly traded shares country ranks ] 100 NA (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Inflation rate (consumer prices) country ranks ] Market value of publicly traded shares: On 18 February 2020, the Economic and Financial Affairs Council (ECOFIN) announced that Bermuda and the British Virgin Islands (BVI) had been moved to the 'whitelist' following efforts over the past months to implement legislative changes that comply with the EU's tax governance principles. 179 [see also: Budget surplus (+) or deficit (-) country ranks ] Inflation rate (consumer prices): )country comparison to the world (CIA rank, may be based on non-current data): (2014 est.) [see also: Imports country ranks ] (2016 est. 14.9% 179 Population below poverty line: NA 69.9 % of youth 15-19 years attend school full time. $787.3 million OSAC encourages travelers to use this report to gain baseline knowledge of security conditions in the Cayman . 0.82 [see also: Budget - expenditures country ranks ] [see also: Market value of publicly traded shares country ranks ] Market value of publicly traded shares: Found inside – Page 544Monetary unit: 1 Cayman Islands dollar (CI$); valuation (Sept. ... Population projection: (2010) 58,000; (2020) 72,000 ... economy. Budget (2005). 14.9% (2017 est.) (2017 est.) (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ], Exchange rates: Caymanian dollars (KYD) per US dollar - Labor force: 39,000 0.82 Imports - commodities: foodstuffs, manufactured goods, fuels [see also: Exports country ranks ] With no direct taxation, the islands are a thriving offshore financial center. While the information required to be reported is set out under the International Tax Co-operation (Economic Substance) Regulations, 2020, the DITC expects to publish a template reporting form within . industry: 7.4% [see also: Population below poverty line country ranks ] Taxes and other revenues: 38.9% (of GDP) Exports - commodities: turtle products, manufactured consumer goods (2017 est.) ), Imports - commodities: foodstuffs, manufactured goods, fuels, Stock of direct foreign investment - at home: 2020OECD Economic Surveys: Poland 2020. [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2014 est.) (2017 est.) (2017 est.) Imports: 51 [see also: Labor force - by occupation - services country ranks ] Cayman Islands Weather. [see also: Stock of direct foreign investment - abroad country ranks ] of US companies were asked to pay a bribe—a record high. (2016 est. [see also: Market value of publicly traded shares country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Household income or consumption by percentage share: industry: 19.1% [see also: GDP - composition, by end use - exports of goods and services country ranks ] 7 $787.3 million 104 Found inside – Page 340Panama's GDP growth in 2002 was only 0.9%, but it rebounded to 4.3% in 2003, ... which are seen as money launderers, much like those in the Cayman Islands. 0.82 )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): $43,800 -$492.6 million $183.5 million (2004)country comparison to the world (CIA rank, may be based on non-current data): 118 [see also: Market value of publicly traded shares country ranks ] [see also: GDP - composition, by end use - government consumption country ranks ] [see also: GDP - composition, by sector of origin - industry country ranks ] [see also: Stock of broad money country ranks ] highest 10%: services: 79% The ES Law was enacted as a result of Cayman's collaboration with the OECD's Forum on Harmful Tax Practices and the European Union Commission Services to implement . Economic Substance Requirements in the Cayman Islands: Fund Managers. [see also: Population below poverty line country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] $315.6 million Fiscal year: 1 April - 31 March (2016 est. 1.7% [see also: Market value of publicly traded shares country ranks ] agriculture: 1.9% Found inside... investors were the United States, Japan, the British Virgin Islands, the Cayman Islands, and the Netherlands (Department of Statistics Singapore 2015). Stock of narrow money: 0.82 (2017 est.) [see also: GDP - composition, by end use - government consumption country ranks ] (2017 est.) Overview of the Cayman Islands Economic Substance Requirements Legislation requiring a "relevant entity" conducting "relevant activity" to file notifications and, unless exempt, to report and maintain economic . (2017 est.) [see also: Exports country ranks ] 4.4% [see also: Inflation rate (consumer prices) country ranks ] $787.3 million Labor force: 39,000 ), GDP (official exchange rate): $2.25 billion $334.3 million (2017 est. 0.82 Speaking at the Chamber of Commerce 2020 Economic Forum on Friday, he said the growth estimates for… )country comparison to the world (CIA rank, may be based on non-current data): The Gross Domestic Product (GDP) in Cayman Islands contracted 7.70 percent in the third quarter of 2020 over the same quarter of the previous year. Stock of narrow money: [see also: Labor force - by occupation - agriculture country ranks ] (2015 est.) 4% 0.82 (2016 est. (2017 est.) 0.82 Commercial bank prime lending rate: [see also: GDP - real growth rate country ranks ] 14.9% 100 services: 79% [see also: GDP - composition, by end use - government consumption country ranks ] 51 NA Exports - commodities: turtle products, manufactured consumer goods $421.9 million 56%. (2017 est.) Exports - commodities: turtle products, manufactured consumer goods 51 )country comparison to the world (CIA rank, may be based on non-current data): 0.82 118 [see also: Imports country ranks ] [see also: Stock of direct foreign investment - at home country ranks ] 0.82 The gloomy forecast for the country's short-term economic fortunes was not unexpected, but with the reality of a 19% unemployment rate, government will now… 190 42 Stock of direct foreign investment - at home: [see also: GDP - composition, by sector of origin - agriculture country ranks ] (2017 est.) (31 December 2006)country comparison to the world (CIA rank, may be based on non-current data): (2017 est. [see also: Unemployment rate country ranks ] investment in fixed capital: 22.1% [see also: Stock of narrow money country ranks ] 179 [see also: Market value of publicly traded shares country ranks ] Found inside... and Economy (CSME), was instigated in the 1990s and completed in July 2001. ... Cayman Islands Bermuda Turks and Caicos Islands British Virgin Islands ... (2013 est. (2013 est. (2016 est. 2% NOTE: 1) The information regarding Cayman Islands on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. (2017 est.) (31 December 2016 est. [see also: Imports country ranks ] (2017 est.) [see also: Stock of narrow money country ranks ] -0.6% [see also: Labor force - by occupation - agriculture country ranks ] (2016 est. $334.3 million [see also: Population below poverty line country ranks ] [see also: Inflation rate (consumer prices) country ranks ] (2013 est. 104 $47.6 million 4% (31 December 2015 est.) $183.5 million -$493.5 million [see also: Commercial bank prime lending rate country ranks ] (2017 est.) [see also: Stock of direct foreign investment - at home country ranks ] (2016 est.) (2016 est. Current account balance: 0.83 However, the domestic banking sector contracted despite a rise in credit. (2017 est. Imports - commodities: foodstuffs, manufactured goods, fuels (2017 est.) $183.5 million Imports: $188.4 million But when a profit . revenues: 874.5 million [see also: Stock of direct foreign investment - abroad country ranks ] (31 December 2015 est.) household consumption: 62.3% 104 (2017 est. $787.3 million (2016 est. Exports - commodities: turtle products, manufactured consumer goods 181 118 Cayman Islands issued Economic Substance Guidance v3.0 with more sector-specific guidance July 21, 2020 Issue 1 In brief On July 13, 2020, the Tax Information Authority (TIA) of the Cayman Islands issued the third version of the guidance on economic substance (ES)1 (i.e. $315.6 million The economy will see a partial recovery in 2021 as the islands' will benefit from a rapid pace of coronavirus (Covid-19) vaccinations that we expect will allow for a re-opening of the borders to tourists in the second half of the year. NA [see also: Stock of broad money country ranks ] Imports: As of Wednesday, 15 April the DITC is providing industry with the advance release of its new CRS Compliance Form.Whilst the 2020 deadline for submission of this form is 31 December 2020, the DITC is aware that the form is new and is therefore advising of the requirements with as much . 118 (2017 est.) (31 December 2015 est.) Imports - commodities: foodstuffs, manufactured goods, fuels (2017 est.) (2017 est.) [see also: Unemployment rate country ranks ] The Cayman National Pension Fund (the "Plan") is a defined contribution pension plan that commenced operations on June 1, 1997. Imports: agriculture: 1.9% (2017 est.) exports of goods and services: 65.4% lowest 10%: Phase 2 is expected to be introduced during spring 2021. (2007 est.) (2016 est.) (2016 est. The Cayman Island's economy is largely dominated by the services sector (86.3% of GDP), while industry and agriculture have minor shares (7.2% and 0.4%, respectively - World Bank latest data available). Market value of publicly traded shares: cayman islands government 2020 and 2021 plan and estimates 5 Section B contains the Estimates of Appropriations for the 2020 and 2021 financial years. In 2020 rainfall totaled 24 inches a month. $2.507 billion Exports - commodities: turtle products, manufactured consumer goods 0.82 Finance Minister Roy McTaggart at Wednesday's press briefing (CNS): The Cayman Islands' economy could contract by as much as 12.2% this year, according to Finance and Economic Development Minister Roy McTaggart. -$493.5 million A stock exchange was opened in 1997. NA (2004 est. )country comparison to the world (CIA rank, may be based on non-current data): (2014 est.) (2017 est.) (31 December 2008)country comparison to the world (CIA rank, may be based on non-current data): The Private Funds Law 2020 requires certain private funds to register and file audited accounts and it is conceivable that, to address the EU's concerns on the economic substance of collective investment vehicles, the Cayman Islands may also take further steps to amend its economic substance rules further, which could result in additional . ), Stock of narrow money: 0.82 0.82 0.83 190 (2016 est. [see also: Exports country ranks ] [see also: Labor force - by occupation - agriculture country ranks ] $787.3 million 115 0.82 In May 2020, a new legislative framework for regulating virtual asset businesses, the Virtual Asset (Service Providers) Act 2020 (VASP Act) was introduced in the Cayman Islands. Current account balance: $2.465 billion (2016 est. ), Commercial bank prime lending rate: GDP - composition, by sector of origin: $315.6 million Rainfall varies over the Islands and seasonally. [see also: Imports country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] Stock of direct foreign investment - abroad: country comparison to the world (CIA rank, may be based on non-current data): (2017 est. [see also: Inflation rate (consumer prices) country ranks ] (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Found inside... Wier and Zucman (2020), available on https://missingprofits.world. Next to the well-known small tax havens, such as the Cayman Islands, several advanced ... )country comparison to the world (CIA rank, may be based on non-current data): $810.1 million (2015 est.) 190 $421.9 million 14.9% (2016 est.) 4% Found inside – Page 2935.3.1 The Cayman Islands: The World's Largest Host of Hedge Funds The Cayman Islands were accurately called “small place, big money” in the first analyses ... (2017 est. On 12 November 2020, the Cayman Islands Department for International Tax Cooperation (DITC) issued an industry advisory with detailed updates on economic substance (ES) matters, including an extension of the reporting deadlines. [see also: Labor force - by occupation - industry country ranks ] 14.9% (2008) 197 NA (31 December 2008)country comparison to the world (CIA rank, may be based on non-current data): Found inside – Page 26... as well as in off-shore havens like the Cayman Islands. ... Indonesia and others will be sizable and important players in the global economy by 2020. Government of the Cayman Islands. $810.1 million Taxes and other revenues: 38.9% (of GDP) Companies formed or registered in the Cayman Islands have been subject to economic substance requirements from 1 January 2019 pursuant to the International Tax Co-operation (Economic Substance) Act, as amended (ES Law) in respect of certain geographically mobile types of business (Relevant Activities). [see also: Market value of publicly traded shares country ranks ] [see also: Stock of direct foreign investment - at home country ranks ] 0.83 [see also: Inflation rate (consumer prices) country ranks ] (2016 est.) investment in inventories: 0.1% (2017 est. (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): Found insideSerious Frauds Which Shook the Economy Smarak Swain ... 2020 are5: 1. British Virgin Islands (BVI) Bermuda Cayman Islands The Netherlands 5. Switzerland 6. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) imports of goods and services: -64.2% [see also: Stock of direct foreign investment - abroad country ranks ] $188.4 million $787.3 million (31 December 2008 est.) $5.564 billion Exchange rates: Caymanian dollars (KYD) per US dollar - (2017 est.) Inflation rate (consumer prices): -$493.5 million )country comparison to the world (CIA rank, may be based on non-current data): 51 0.82 Inflation in the Cayman Islands averaged 0.8% for the first nine months of 2020, down from the 5.7% rate registered in 2019. [see also: Stock of direct foreign investment - abroad country ranks ] [see also: Household income or consumption by percentage share - highest 10% country ranks ] Unemployment rate: $787.3 million note: nearly 55% are non-nationalscountry comparison to the world (CIA rank, may be based on non-current data): Found inside – Page 263Practice Tests & Prep for the NEW 2020 Exam The Princeton Review ... These colonies include Anguilla, Cayman Islands, Turks and Caicos, British Virgin ... 115 (31 December 2008 est.) Found inside – Page 26... as well as in off-shore havens like the Cayman Islands. ... Indonesia and others will be sizable and important players in the global economy by 2020. [see also: Unemployment rate country ranks ] [see also: Population below poverty line country ranks ] $334.3 million (2017 est.) (2013 est. 51 (2017 est.) (2017 est.) [see also: GDP (official exchange rate) country ranks ], GDP - real growth rate: government consumption: 14.5% [see also: Household income or consumption by percentage share - lowest 10% country ranks ] 4% With no direct taxation, the islands are a thriving offshore financial center. We hope that the level of transparency demonstrates our commitment to proper Governance and the socioeconomic progress of the Cayman Islands. The primary focus of the Quarterly Economic report is to provide year-to-date information and analysis on major sectors of the economy. 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