Cayman Islands — map and facts

About Cayman Islands

The Cayman Islands is a British Overseas Territory located in the western Caribbean Sea, consisting of three islands: Grand Cayman, Cayman Brac, and Little Cayman. George Town, on Grand Cayman, is the capital and administrative centre. The total population is approximately 75,000, including a large expatriate community. As a British Overseas Territory, the Cayman Islands is self-governing in most domestic matters, with the United Kingdom retaining responsibility for defence and foreign affairs. The islands are among the world's most prominent offshore financial centres, hosting thousands of registered hedge funds, banks, and insurance companies. There is no income tax, capital gains tax, or corporation tax, making the jurisdiction exceptionally attractive to international business. The islands are also a popular tourist destination, renowned for pristine diving sites, luxury resorts, and the famous Seven Mile Beach. The Caymanian dollar is the local currency.

Geography and Landscape

The Cayman Islands lie approximately 750 kilometres south of Miami and 290 kilometres northwest of Jamaica. Grand Cayman is by far the largest island, accounting for the vast majority of the land area and population. Cayman Brac and Little Cayman are smaller and more remote. The islands are low-lying, formed primarily from coral limestone, with no significant hills or mountains; the highest point on Grand Cayman reaches only about 18 metres above sea level. The coastline features numerous coral reefs, white sand beaches, and calm turquoise lagoons. The surrounding waters are among the clearest in the Caribbean and support exceptional biodiversity. The climate is tropical, with a warm, wet season from May to October and a drier, slightly cooler season from November to April. Hurricanes are an occasional threat, and the islands lie within the Caribbean hurricane belt. The islands contain various wetland habitats, including mangrove forests important to local ecology.

History

The Cayman Islands were first recorded by Europeans when Christopher Columbus sighted them in 1503, noting the abundance of turtles and naming the area Las Tortugas. They were later renamed after the caiman crocodiles reported by early visitors. The islands remained uninhabited by Europeans until the late seventeenth century when settlers, including English and Welsh immigrants and shipwrecked sailors, began arriving. The islands were formally ceded to Britain under the 1670 Treaty of Madrid and were administered as a dependency of Jamaica until Jamaican independence in 1962, after which the Cayman Islands became a separate Crown Colony. A new constitution introduced in 2009 gave the islands greater autonomy. From the 1960s onwards the islands developed their financial services sector dramatically, becoming one of the world's foremost offshore financial centres by the late twentieth century. Today the Cayman Islands balances its role as a global financial hub with a thriving tourism industry.