The Cayman Islands
 
Background Information
The Cayman Islands are a small chain of islands lying 500 miles south of Miami. Grand Cayman is the largest and most significantly populated of the three islands. It is also the centre of business activity and home to all the major law firms and banks. The island itself is 22 miles long and is probably most famous for its “seven mile beach” which is bordered by palm trees and a crystal clear blue sea.
For further information visit: www.gov.ky
                                    www.caymanislands.ky
 
Law Firms
The Cayman Islands is the most sophisticated and successful offshore financial and business centre. The law firms are staffed principally by UK lawyers but also by lawyers qualified in Australia, New Zealand, South Africa and Canada. The island has a dozen commercial law firms ranging from about 60 lawyers in the largest to a handful in the smallest.
 
Principal Areas of Demand
  1. Corporate Finance
  2. Capital Markets
  3. Funds
  4. Banking & Finance
  5. Commercial Litigation
  6. Trusts
To obtain a work permit, lawyers must be admitted for at least three years in a Commonwealth jurisdiction.
 
Remuneration & Benefits
Remuneration in the Cayman Islands tends to be the highest of all the offshore centres but does vary from firm to firm. Salaries are tax free and finance lawyers can earn as much as US$450,000 per annum tax free in the largest firms.
 
Outside the Office
The lifestyle enjoyed in the Cayman Islands is unrivalled, combining quality of work with a fantastic way of life. Accommodation is very good and attorneys tend to live in condominium complexes with shared pools, tennis courts, gardens etc. Rents vary according to size and location. A two-bedroom apartment in such a complex can range between US$3,000 to US$4,000 per month. Most lawyers live within a 15-minute drive to work. The cost of living is high with the average shopping basket costing about 20% more than in the UK.
For those with children, the schools up until the age of 14 are excellent. Older children usually attend boarding school in Canada or England. For those who are single, there is a very active social life with a number of fantastic bars, restaurants and a small collection of nightclubs
 
 
If you are interested in working as a Lawyer in the above jurisdiction, please contact us for a confidential and detailed discussion.