Businesses, investors and individuals from all parts of the world are looking for a Cayman Islands offshore banking solution due to the favorable conditions on offer. See the details provided below on the banking system and on opening a Cayman Islands offshore bank account and proceed to setting up your account.
The Cayman Islands Monetary Authority is the regulated body acting the role of the central bank. The authority is responsible for issuing the Caymanian Dollar and holds sufficient assets (i.e. US Treasuries) to back all the local notes and coinage in circulation.
The principal objectives of the Authority, as stated in the Law, are:
In March 2003 the Authority became operationally independent under the Monetary Authority Law (2003 Revision). Independence significantly enhanced the ability of the Authority to meet international standards of supervising, accountability and transparency, and has more clearly defined its functions, duties, powers and obligations.
Some of the major Cayman Islands banking institutions currently operating:
Contact Us if you require further information on Cayman Islands banking or offshore banking in another country.