Opening a bank account in the Cayman Islands
At present, the Cayman Islands represent one of the largest areas of capital concentration. According to recent studies, local banks hold more than a trillion US dollars, belonging to different jurisdictions in the world (the total number of which is approximately 55).
Advantages of the local banking system
Statistics show that the financial institutions of the Cayman Islands are the most popular in popularity, sharing first places with the banks of such famous countries as Switzerland, Cyprus, etc. What makes the Cayman Islands so attractive place to store deposits?
- Transparent financial policy of the state. One of the main areas of local legislation is the development of the banking system and simplification of bureaucratic procedures for opening accounts for foreign persons (both individuals and legal entities).
- Guaranteed protection of assets by the state.
- The highest level of customer service (both local and remote). This sphere of banking is constantly being optimized taking into account the growing demands of the modern financial market and technological progress.
- The client is guaranteed to ensure its confidentiality and banking secrecy, which operate, even in spite of the recently introduced data exchange system with a number of European countries and the optimization of taxation, aimed at increasing the transparency of this operation.
- Possibility to keep deposits in the most reliable currency of the world. Currently, most of the assets on the Cayman Islands’ accounts are held in United States dollars. This ensures maximum protection of deposits against currency fluctuations and subsequent depreciation.
- The local banking system is one of the most reliable and safe in the world. This is confirmed by the fact that today in the Cayman Islands have received licenses to provide financial services to the 40 most famous banks in the world (out of 50). This is the best confirmation of the efficiency and quality of the local banking system, and demonstrates worldwide recognition.
What is required to register an account in the Cayman Islands?
At the moment there is no single generally accepted package of documents, which is suitable for all local banks. Each financial institution presents individual requirements to future investors. Therefore, for maximum simplification of account opening, it is recommended to use the service of professional lawyers of Cyworld Wealth Limited. We will select the package of required documents, provide full control over all stages of registration, and provide confidential consultations on any issue.