The Cayman Islands are a British Dependent Territory, politically stable, self governing, with a democratically elected legislature. They are not, however, subject to United Kingdom tax laws. In fact, there is no direct taxation levied within the Cayman Islands, either on the resident population or companies registered there. Specifically there is no

• Income Tax
• Capital Gains
• Withholding Tax
• Gift Tax
• Inheritance Tax
• Death Duty
• Corporation Tax
• Value Added/Sales Tax
• Property Tax

In addition there are no exchange controls. Funds and financial assets in any currency, or gold, can be freely transferred into and out of the country. The financial and business infrastructure is well developed with 550 banks registered in the Cayman Islands, together with a broad range of corporate, legal, trust, insurance and other services. The twin arms of finance and tourism embrace a vibrant local economy, while the absence of property taxes underpin a strong Real Estate sector. GNP growth is averaging 13%,after adjustment for inflation, and per capita GNP is fast overtaking the USA at around $20,000.00 US. Immigration is strictly controlled, keeping unemployment virtually nil. The immigrant workforce merely adjusts for any variations in employment demand.

The Cayman Islands, British and U.S. Governments co-operate closely in the drug war. Consequently, the Cayman Islands maintain an excellent relationship with the U. S. Coast Guard. Yachts on registries less reputable than the Cayman Islands have been subject to rigorous and expensive safety inspections by U.S. Coast Guard on entering U.S. waters.

In summary, the country enjoys a stability founded on economic structure, defense and protection from Great Britain, tax freedom as a keystone to its economy, and confidentiality protected by law. The sheer number of major financial and corporate institutions registered in the Cayman Islands bear witness to its pre-eminent position as an offshore business center.

YACHT REGISTRATION

• Yachts registered in the Cayman Islands are subject to the right and protection of British Maritime Law and, as a consequence, are entitled to fly the British Red Ensign (with Cayman insignia). To guage how many owners seek out this flag, pick up any quality yachting magazine and count the visible proportion of yachts flying the Red Ensign compared with all other flags.

  Complete information regarding Cayman Islands Registry and its associated benefits for today's yacht owners and those individuals and company considering such an acquisition is available by contacting Affiniti Yacht Brokerage, Inc. Where service goes well beyond the simple sale or purchase of a new yacht.
  

  Affiniti Yacht Brokerage LLC

  http://affiniti-yacht.com

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