Location
Western Caribbean Sea
National currency
Caymanian dollar
Conditional reduction of currency
KYD
Climate, average max and min t°
Tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)
Time difference from Moscow
- 8 hours
Ethnic groups
Mixed 40%, white 20%, black 20%, expatriates of various ethnic groups 20%
History
Islands Cayman Brac and Little Cayman were discovered by Christopher Columbus on May 10, 1503 during his fourth expedition to the New World.
England took formal control of the Cayman Islands, along with Jamaica, as a result of the Treaty of Madrid of 1670. Following several unsuccessful attempts at settlement, a permanent English-speaking population in the islands dates from the 1730s.
The islands continued to be governed as part of the Colony of Jamaica until 1962, when they became a separate Crown colony while Jamaica became an independent Commonwealth realm.
The Cayman Islands historically have been a tax-exempt destination. The islands have never levied income tax, capital gains tax, or any wealth tax, making them a popular tax haven.
Government type
British overseas territory; parliamentary democracy
Executive branch
The Queen and the Government, consisting of the Governor and the Cabinet
Legislative branch
Legislative Assembly (20 seats)
Judicial branch
Disciplinary Court, Supreme Court, Court of Appeal and Privy Council in London
GDP per capita rank
4 (2018)
Corruption perceptions index rank
—
