The Cayman Islands is a paradise like no other on earth, not only because of the beautiful tropical setting but because it is a no tax jurisdiction.
What this means is there is
* No capital gains taxes
* No income taxes
* No estate taxes
* No gift taxes

These no tax rules are for individuals, trusts, and corporations equally. What is really excellent is that they offer a long tern no tax guarantee to corporations and trusts in the event that a direct tax is imposed these corporations and trusts will be exempt for a certain number of years after the tax has been imposed. However, there is nothing to worry about since there is no thought of a direct tax as it would harm the excellent financial services industry.

The way in which the Cayman government raises revenue is through various indirect taxes such as import duties, licensing fees, stamp duties, tourist fees and other such fees. As an example, there is a stamp duty of 7.5 percent on transfers or real property and a 1 percent stamp duty on mortgages.