We won’t even beat around the bush much today and just go on to ask you the question. If you happen to be in the Cayman Islands, or you are planning to go there on business soon, would you like to establish a great business venture over there? Let’s assume you don’t know why we are asking you this, let us be the ones to tell you that the Cayman Islands is actually one of the best locations on earth for your business to thrive. The government doesn't practice direct taxation, which means that you get to save a lot of taxes and pump these back into your business. Asides from the fact that the island boasts one of the best standards of living in the region, we should do well to tell you that a lot of leading financial institutions have seen the reason to set up shop here. With all of these in place, the next thing is for you to launch out and get into a business there. What kind of investments can you then make here?
1. Tourism Agency
If you have ever been to the Cayman Islands heard of it, seen it in clips or read about it in books, you would know that this is a prime location for tourists. This location is so great for tourists that the region itself gets more than 75% of its GDP from tourism alone. Since this has already been put in place by nature, you can exploit the chance to set up a tourism agency for the region. Start with familiarizing yourself with the region and organizing small activities for your tourists or troops. This would encourage people to opt for your services and in no time, your own GDP would have expanded largely
2. Financial Consultancy
Hundreds of hundreds of financial transactions – spanning both local and international- are generated from the Cayman Islands yearly since they have one of the friendliest business regimes that could be found anywhere. This makes the location a prime market for people that would even like to get more out of their money, invest the best and other things. For this, you get openings to offer your expert opinions on business, money, and investments. See, you’re a consultant in no time.
3. Recruitment Firms
According to a most recent report from the World Bank, the population of the Cayman Islands stands at a little over 500,000. While there are a lot of jobs to be worked, there are a few number of people to work them and this creates a void in the labor market – both skilled and unskilled. Establishing a recruitment agency would be seen as filling a need, and you get the chance to network people with their dream jobs. Since your services would be in high demand, you would never run out of business, and surely never run out of steady income too.
4. Restaurant
A lot of expatriates have decided to make the Cayman Islands their home, and we need not remind you of the large influx of tourists that visit every year. This makes the location a prime place to set up a restaurant that would serve different types of dishes. While local dishes would be most appreciated, those that would love to feel closer to home would find solace in your international delicacies too. With these kinds of options, your plates would always be serving.
5. Agriculture
As much as the Cayman Island is situated in a position of fertile soil and easy access to water, the region still imports up to 90 percent of her food produce. The land is there, and all the other resource is there, but they are not being utilized properly. While many might see this as a lost cause, it is actually a gold mine that is waiting to be exploited. Take your hoes and cutlasses to the land and make something grow from it. even if you can reduce the total imports by up to 5%, that would be a huge boost that your generations wouldn’t forget in a hurry.
So, it's all out there. The Cayman Islands is a land flowing with milk and honey. Why not just brace up and start something?