With the gateway city of Miami sitting just a 90-minute flight from Grand Cayman — plus a number of other nonstop flights to North American capitals just a few hours away — managing a global business from Grand Cayman is about as easy as throwing on flip-flops and walking down to the Island’s sandy shores. The fact that the Cayman Islands lack corporate, income and capital gain taxes doesn’t hurt, either.
It’s no surprise, then, that the economy grew by over 2.4 percent in 2017 and company registrations jumped up by 14 percent. With one of the strongest office space rental markets in the Caribbean, Cayman offers those choosing to relocate their business plenty of options to choose from, with a combined total office space close to 3.5 million square feet.
“The fact that the Cayman Islands is a safe, secure and sophisticated country makes it a jurisdiction of choice and a place for business to flourish,” explains Dart Real Estate president Jackie Doak. “Beyond our world-acclaimed white-sand beaches and luxury properties, there is an innovative business community comprised of global banks, accounting and law firms, flourishing tourism and real estate development sectors, and bourgeoning IT and healthcare sectors.”
FROM SHIPBUILDING TO START-UPS
The Seven Mile Beach corridor and East End are home to some of the most sought-after business locales in Grand Cayman. The Island that got its start in shipbuilding, fishing and rope making has evolved into a global financial hub with 100,000 companies and 600 registered banks.
The entrepreneurial spirit still rings strong with Silicon Valley-style blockchain companies and start-up businesses making the move to Cayman’s shores. Philosophies like Dart Real Estate’s Camana Bay’s “Live, Work, Play” entice those looking for work-life balance, with 700,000 square feet of Class-A office space sitting right next door to a six-screen cinema (the only cinema in the Cayman Islands), restaurants and shops. Every day, nearly 2,000 people come to work and visit Camana Bay, which is conveniently located just a 10-minute drive away from Owen Roberts International Airport. Office suites here range in size from 800 to 80,000 square feet and are housed inside some of the Island’s newest commercial buildings, such as four-storey 18 Forum Lane and One Nexus Way — Grand Cayman’s first LEED Gold-certified office buildings.
Also on Seven Mile Beach, Regatta Office Park is the perfect choice for those looking for value for the money when it comes to business space. Class-B office space ranges from 1,200 to 10,000 square feet and counts CIBC, Cayman Water and St. Matthew’s University as tenants. Sprawling across 10 acres, Regatta Office Park offers a total of 127,000 square feet of office space right next door to North Sound Golf Club, Grand Cayman’s only 18-hole course, meaning you can quickly take business from the comfort of a boardroom to the greens of a golf course in a matter of minutes. For companies looking to set up shop in the capital of George Town, the Flagship Building —which sits right along the ocean near the cruise port, offshore banks, the courthouse and restaurants — offers smaller suites from 100 to 3,000 square feet.
DID YOU KNOW? Enforcing the Live, Work, Play aesthetic, the co-ed Corporate Football League at the Camana Bay Sports Complex kicked off its season in June.
Author: Lane Nieset
Photographer: Dart Real Estate