About - Cayman Islands Overview

Cayman Islands Overview

The Cayman Islands are located in the Western Caribbean 480 miles south of Miami, Florida, and 180 miles west of Jamaica. The three islands are Grand Cayman, Cayman Brac, and Little Cayman, with a combined area of 100 square miles (259 square kilometers). Grand Cayman is 76 square miles (196.8 square kilometers). Click here for detailed maps of Grand Cayman.

Together, the three islands have a total population of some 52,000 (estimate), of whom approximately 27,000 are Caymanian. There are less than 100 on Little Cayman, about 1,500 on Cayman Brac and the rest on Grand Cayman. George Town, the administrative centre of the islands, is on the western shore of Grand Cayman. The Cayman Islands offer a perfect tropical climate all year round with temperatures ranging from around 70°F (21°C) in winter to 90°F (32°C) at the height of summer. Excellent international communications are available with telephone, fax, internet, an efficient postal system and courier services all making for easy international business and personal communications. Several major airlines provide regular jet flights connecting the Cayman Islands with the U.S.A., mainly through Miami, but with direct flights to various other cities in North America. The Cayman Islands are five hours behind Greenwich Mean Time (GMT) in the Eastern Standard Time (EST) zone. Daylight saving time is not observed, therefore we are 6 hours behind GMT between the months of May and November. English is the official language.

Political Background

The Cayman Islands are a British Overseas Territory, with a high degree of internal autonomy under the present constitution, which was introduced in 1972. The constitution provides for a Governor appointed by the Queen, an Executive Council and a Legislative Assembly. The Assembly currently consists of fifteen members who are elected every four years, and three official members appointed by the Governor. The Executive Council, which sets Government policy, comprises five elected members, and three official members. It is presided over by the Governor. The islands enjoy a stable government and have no desire for independence. Racial and political problems are virtually non-existent. The legal system is largely based on that of England, with a strong influence of English case law, although a number of local statutes have been passed to meet local needs. Since 2000, there have been two official political parties: The United Democratic Party (UDP) and the People's Progressive Movement (PPM). While there has been a shift to political parties, many contending for an office still run as independents. In May 2005 elections, the People's Progressive Movement won, receiving nine of the 15 seats.

Economic Factors

The Cayman Islands are considered a major offshore banking and financial centre. The increasing number of banks, insurance companies, and other financial institutions, together with tourism, provide the basis for the local economy. The cost of living in the Cayman Islands is high for several reasons. Very little is produced locally and almost all goods must be imported. High transportation costs and import duty raises the retail cost of products. Click here to see the Cost of Living section for further information

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