Moving your fintech business to the Cayman Islands

We have also seen a growing need for these entities to establish a physical presence in Cayman. In such cases, we refer clients to the special economic zone (SEZ) operated by Cayman Enterprise City (CEC).

Why move your fintech business?

With so much uncertainty in the world, Cayman offers a secure, well-regulated environment for tech companies to grow. As a tax-neutral British Overseas Territory and leading international financial centre, Cayman provides economic and political stability, strong IP protection under English Law, and strategic proximity to Miami (1hr) and New York (3hrs), with direct flights to London and major US cities.

With a pro-business government, tax neutrality, and a cost-effective SEZ, Cayman fosters entrepreneurship. The jurisdiction attracts top financial institutions, law firms, and accounting firms, and boasts an advanced business and IT infrastructure. Offering a high standard of living, excellent schools, healthcare, and diverse leisure options, it is an ideal hub for international business.

Why Cayman Tech City?

Cayman Tech City, part of the CEC SEZ, is a hub for fintech and blockchain technology businesses. With 125+ companies, including 25 fintech firms utilising blockchain, it offers:

Fast business licensing (4-6 weeks);

5-year renewable work visas (processed in 5 days); and

Access to world-class business networks, offshore data centres, and relocation and recruitment services. 

How Cayman Enterprise City (CEC) and Stuarts Humphries (Stuarts) work together

How do clients engage with Stuarts for a Cayman presence?

Clients connect with Stuarts via the firm’s website, referrals, or marketing channels. The team at Stuarts assess their eligibility for the SEZ, and refer clients to CEC if they qualify. 

What is the process for incorporating a company in the SEZ?

Stuarts handles the incorporation process, including:

Due diligence documentation and company details (shareholders, directors, etc.);

Legal fee estimates; and

Coordination with CEC on business licensing and space requirements.

How do Stuarts and CEC collaborate during incorporation?Stuarts and CEC work together to oversee the following key processes for clients:

Company incorporation;

Trade certificate applications; and

Licensing enquiries and regulatory approvals.

What role does CEC play in work permit applications?

CEC assists with work permit applications and renewals, but Stuarts may provide legal guidance in specific cases.

What should clients consider before setting up a Cayman company?

Seek tax advice from their home jurisdictions before incorporation; 

Confirm banking options for the Cayman company;

Plan for business continuity and contract transitions; and

Keep multiple copies of due diligence documents.

By working together, Stuarts and CEC provide a seamless service for clients, ensuring a smooth incorporation and licensing process. Stuarts has proudly facilitated the registration of over 10% of all SEZ entities in Cayman.

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Chris Humphries  is the Managing Director of Stuarts and Head of the investment funds team. He specialises in investment funds, corporate and commercial, insurance, banking, fintech, regulatory and compliance. With over 20 years’ experience, Chris is a recognised leader in his field, and has been awarded “Leading Partner” in Fintech and Investment Funds by Chambers & Partners, “Highly Regarded” in Corporate and Finance by IFLR and “Leading Individual ” in Funds by Legal500.

Jonathan McLean is a Partner and head of banking & regulatory at Stuarts. He has an extensive practice and advises clients on all banking, finance, licensing, regulatory, funds, fintech, corporate and commercial matters across a broad range of sectors. Jon is recognised as a “Leading Individual” in FinTech by Chambers & Partners, “Highly Regarded” in Corporate and Finance by IFLR and “Recommended Lawyer” in Banking and Corporate by Legal500.