Thanks to our high standards, stable economy, and tax-neutral environment, investors of all kinds benefit from doing business in Cayman but what are some ways investment benefits the Cayman Islands in return?
InvestCayman facilitates a triple win business model that speaks to how investment benefits and contributes to the people of the Cayman Islands through social and economic development. In other words, investment creates jobs, positively impacts the economy, and increases government revenue, making it a win-win-win situation. For every new project or business, the government collects a variety of fees that go back to the country, and new jobs become available. With employment increasing, so does the spending in the economy and thus the cycle of benefits continues.
The Cayman Islands grows and benefits from sustainable investment that creates a positive impact on all involved. Government departments like the Cayman Islands Centre For Business Development (CICBD), the Needs Assessment Unit (NAU), and the Department of Children and Family Services (DCFS), all need investment in some way and will benefit from an increased focus on Impact Investment.
Managing major island-wide programmes such as the training programmes offered by CICBD, NAU's Financial Assistance Programme, and the DCFS Adult Special Needs Programme, costs the government a lot of money and resources. Impact investments are investments made with the intention to generate positive and measurable environmental and social impact alongside a financial return and will be a pivotal industry in affecting positive change and increasing the quality of living in the Cayman Islands.
The government is also an investor in its people in many ways. Whether investing in infrastructure (new roads and airport renovations) and programmes that carried us through the Pandemic (Tourism Stipend and Business Grant) or directly investing in its citizens via educational opportunities and scholarships through government ministries (Medical Specialisation Scholarship and Government High Schools Scholars), the Cayman Islands Government recognises the benefits investing in the future brings to the country through the positive return on investment and enhanced social and economic development.
By Hollie Whitelocke