Is there a lot of poverty in the Cayman Islands?

As we can see, the Cayman Islands have a relatively small percent of the population under the poverty line in comparison to the United States, with the Cayman Islands having a 1.9% poverty rate, and the U.S. having a 14.5% rate.

The Cayman Islands enjoys a high standard of living with a gross domestic product (GDP) of US$85 340 and low poverty levels for 2020.

Cons: Very expensive, too built up (in some areas)which can lead to crowds & traffic(but easy to avoid), flat & not very picturesque (unless you're on the beach), crappy exchange rate. agree with all the previous poster's pros... beautiful, crystal clear water, easy to deal with...

The main industries are financial services, tourism, and real estate sales and development.

The cost of living in the Cayman Islands can be relatively high, and food and other living expenses are no exception. While there are several options available for dining out and buying groceries, it is important to budget accordingly to avoid overspending.

Countries/Jurisdictions of Primary Concern - Cayman Islands. The Cayman Islands, a UK Caribbean overseas territory, is an offshore financial center. Most money laundering that occurs in the Cayman Islands is primarily related to fraud and drug trafficking.

The Cayman Islands are very safe and are a great vacation destination. The high level of safety is one of the reasons why so many families vacation to Cayman every year. Over 2-million tourists visit the Cayman Islands every year, and virtually no one has any issues.

Cayman Islands Salary. $63,000 is the 25th percentile. Salaries below this are outliers. $100,000 is the 75th percentile.

EU AML list. As a technical result of being placed on the grey list, the Cayman Islands was added to the European Union's (EU) list of high risk third countries for AML/CFT purposes (the EU AML list) on 13 March 2022.

Overall, the Caymans have seen residential prices rise, from an average of about $942,000 in 2019 to $1.16 million in 2020, according to data from CIREBA.

The Cayman Islands has numerous employment opportunities in the financial services industry, making it a desirable jurisdiction to be employed in, and it attracts professionals from around the world. Jobs in other sectors (medical, education, construction, retail) exist mainly to meet the demands of the local market.

There are no income or withholding taxes imposed on individuals in the Cayman Islands.

As a place to conduct business, Cayman's appeal is obvious. The country, a British Overseas Territory, levies no income or corporate taxes, and, since the 1960s, it has become one of the world's most sophisticated banking centers.

Award-winning and one of the most sought-after locations in the Cayman Islands, Seven Mile Beach is a stunning place to call home. This idyllic stretch of sand is home to some of the most exclusive properties on the island. With high-end beachfront condos in high demand.

Cayman's minimum wage of $6-an-hour was established in 2016. There is a carve-out for hospitality workers who get gratuities and for domestic helpers who are provided with accommodation that the hourly rate can be as low as $4.50.

Food on Grand Cayman can be slightly more expensive than in the U.S., but the prices are on par with those you will find on many other Caribbean islands and in other tourist destinations, such as Hawaii, but there are options here to fit all budgets.

Moving to the Cayman Islands is, for many, a lifelong ambition fulfilled. It's an opportunity to live on a Caribbean island with fabulous beaches, balmy year-round weather, a high standard of living, a low crime rate and a community of international residents who extend a "Caymankind" welcome.

It is rare to be the victim of a serious crime, but pickpocketing and having items stolen is possible. In 2010, the homicide rate in the Cayman Islands was 15.88 per 100,000 people. It decreased to 8.22 per 100,000 people in 2014. The homicide rate further decreased to 7.99 per 100,000 people in 2022.

If you want to travel around the island in safety the choice is easily the Cayman Islands. In Jamaica, you have to stay at your resort. The great thing about Grand Cayman is that you and your family can sit anywhere on Seven Mile Beach and not be bothered by a vendor, beggar or hair braider.

The Cayman Islands are renowned for their pristine beaches. Lining Grand Cayman, the most famous is award winning, Seven Mile Beach. If you're looking to stay amongst the restaurants, shops and amenities on the island without renting a car then Seven Mile is for you.

Although tsunamis triggered by earthquakes can occur in Cayman, the probability is believed to be very low: Cayman's underwater landscape, with steep drop-offs close to shore and very little continental shelf, may well reduce the risk of dangerous tsunamis.

The rainy season spans from May through October – though showers usually only last for a few hours at a time. The islands' location in the western part of the Caribbean shields them from being hit too hard by the annual Atlantic hurricane season, which lasts from June to November.

Safety is a top consideration for many people planning a trip to an island destination. Many travelers new to Grand Cayman are curious about Cayman Islands safety. The answer is resoundingly positive. You can feel safe exploring Grand Cayman by foot or by car.

Under the law, a firearm can only be legally owned on Grand Cayman with the express consent of the Commissioner of Police, and on Cayman Brac and Little Cayman with the express consent of the District Commissioner, after a thorough application and vetting process.

There are lots of job opportunities available to English speaking people looking to travel and to work in the Cayman Islands. It is, however, not always easy to apply from overseas as local companies will get a deluge of foreign applicants for most positions they advertise.

All non-Cayman Islands residents are required to have a work visa before they are allowed to live and work in the country. This applies even if your country of residence is on the list of countries with visa-free travel arrangements as this would only allow you to carry out certain non-business activities.