Cayman Islands Offshore Banking

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		Cayman Islands Offshore Banking The Cayman Islands is the fifth largest offshore banking center in the world. The offshore banking industry makes up about 30% of the countries gross domestic product. Many large banks are in the Cayman Islands. For example, UBS is in the Cayman Islands. There are 19 banks that are allowed to do domestic and international business. There are also hundreds of other banks that are allowed to only do international banking. The Cayman islands is a country that does not have personal income tax, corporate tax, capital gains tax. The country primarily gets tax from import duties. The big four accounting firms operate in the Cayman Islands. There are a lot of top tax and lawyer firms in the country. The Cayman Islands is under British rule and only has a population of about 50,000 people. Source (wikipedia)
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