Cayman Islands - Overview and Introduction

Cayman Islands - Overview and Introduction

Taxation of international executives


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Cayman islands shore with bright colored buildings.

All information contained in this document is summarized by KPMG Cayman Islands, the Cayman Islands member firm affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on Cayman Islands law.

Cayman Islands Trade and Business License Law.

The Cayman Islands levy no taxes on income, dividends, royalties, profits, capital gains, wealth, property, or transfers, including transfers on death, on either resident or non-resident individuals. There are no foreign exchange restrictions or levies. There are no sales or value-added taxes.

Every non-exempt person or company carrying on a business in the Cayman Islands must have a business license for each place of business. Also, employers must pay an annual license fee for each non-Caymanian working in the Cayman Islands. The annual fee varies depending on the occupation and industry of employment. Within our industry category of “accounting, bookkeeping and auditing activities; tax consultancy” the fees range from the equivalent of 1,280 US dollars (USD) for filing clerks and messengers, up to USD33,750 for partners, managing directors, and CEOs. Please visit Cayman Islands Immigration for further information.

The official currency of the Cayman Islands is the Cayman Islands dollar (KYD).

Herein, the host country/territory refers to the country/territory to which the employee is assigned. The home country/territory refers to the country/territory where the assignee lives when they are not on assignment.

© 2021 KPMG, a Cayman Islands partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

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