Monkton
Insurance Services Limited
Located 460 miles south of Miami, Florida, the three islands of Grand Cayman, Cayman
Brac and Little Cayman comprise the Cayman Islands.
The total land area is 100 square miles and the islands have a population of some
35,000 with Grand Cayman being the largest and most populous.
The Cayman Islands were originally discovered by Christopher Columbus in 1503,
but were not settled until 1730. Cayman is a Crown Colony of the United Kingdom.
The Crown-appointed Governor is empowered under the Constitution to make Laws with
the advise and consent of the Legislative Council. This body is made up of 15 elected
members and 3 members appointed by the Governor, with each elected member holding
office for a period of four years. The Executive Council, consisting of five Ministers,
the Governor and other officials, is responsible for day to day governmental operations.
The
Islands enjoy stable Government with no racial or political problems.
Cayman is situated in the tropical zone with average temperatures for May to October
are 27°c (80°f) and for November to April are 23°c (70°f) with average annual rainfall
of 60 inches.
In the absence of any income, profits or capital gains taxes and with no inheritance
taxes, the Government relies on other forms of revenue such as import duties, stamp
duties, tourist taxes and licence fees.
Economic activity in the Islands has
shown impressive growth over the last ten years, due largely to the substantial increases
in both the tourism and offshore financial services sectors.
Indeed, the Cayman
Islands boasts the highest per capita income in the Caribbean. and has developed
as an attractive jurisdiction for offshore business including insurance, banking
and shipping.
The Cayman Islands have excellent telephone, facsimile, internet and postal services.
Courier services delivers mail to or from the United States and Canada the following
day and covers all parts of the world with prompt delivery schedules.
The
Cayman Islands is currently served by the National Airline, Cayman Airways, and several
major US airlines. There is direct jet service available to Miami, Charlotte, Houston,
Atlanta and Tampa Bay.