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State

Capital

Cayman Islands*

Roadtown

Currency unit

Cayman $

Connections

Caribbean

Empire

 Politics

 Economics

 Green

 Rights

 Climate

History

These Islands were seen by Columbus in 1503. They were then uninhabited but visited by Arawak Indians. They were not settled until 1670 when the British took them. They were ruled as a Dependency of Jamaica until 1959. Now they are a British overseas territory.

The Cayman Island $=US$.

The main business is tourism, money laundering and tax avoiding (with a certain amount of cocaine smuggling from isolated islands). There are a large number of Banks and businesses which the owners wish to conceal from regulators' eyes.

Languages

Creole

English

 History

 Economics

 Green

 Rights

 Climate

Politics

British Overseas Territory administration and a rather corrupt local government. Will it follow the Turks Islands into Direct Rule from London?

 History

 Politics

 Green

 Rights

 Climate

Economics

A well-known tax haven with many offshore banks and post box companies where money can be hidden from national control. It is alleged that some of the money belongs to criminals.

This is a business which the 1991 collapse of the Bank of Commerce and Credit International, which based some its activities in Cayman, may cause the world community to regulate in future. BCCI was closed by the British and American regulators who revealed a fraud which might have reached $8,000 million.

In 2009 even bigger frauds are linked with the islands and the regulators are closing in.

The government is very short of money as its normal sources of income - from hedge funds - are drying up.

Nicholas Saxson - Treasure Islands



Treasure Islands: Tax Havens and the Men Who Stole the World

 History

 Politics

 Economics

 Rights

 Climate

Green/Ecology

 

 History

 Politics

 Economics

 Green

 Climate

Human Rights

Islanders were awarded full British citizenship in 21 May 2002. However, British citizens do not have the right to move there.

Climate effects

Last revised 8/01/11


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