[h=2]Benefits of Living in a Tax Free Jurisdiction[/h] Currently there are people from some 125 different countries who have chosen to make the Cayman Islands their home. Be it for a few months or a lifetime, there are many positive reasons to choose Cayman to live, work and play. As Cayman is one of the world's leading Offshore Financial Services Centres (OFC), the jurisdiction offers numerous opportunities for investment, career advancement and a high quality of life. The most obvious benefits of living in the Cayman Islands are essentially financial, though there are many others and you don?t have to be a billionaire to benefit. As a tax neutral jurisdiction no one, rich or poor, pays income or corporation tax. Finance for running the country is levied by the Cayman Islands government through various other means or indirect taxes known as fees. One of the most important of these is the duty placed on imports. As a small group of islands Cayman produces neither food nor manufactured goods. Consequently the government is able to raise significant revenue through import duties without directly taxing its people?s earnings. However, there are certain sectors of the retail market that are duty free, in particular luxury goods. From diamonds to cameras, Cayman offers some interesting bargains for those who visit and who live here.
source, RIGHT FORUM!
