Is cayman island independent or dependent?

The 20th Century: The Cayman Islands, initially administered as a dependency of Jamaica, became an independent colony in 1959; they now are a self-governing British Overseas Territory.

Once a dependency of Jamaica, the Cayman Islands came under direct British rule after Jamaica declared independence in 1962. Granted greater autonomy in 1972, the islands gained a high degree of self-government under the 2009 constitution but Its first premier, McKeeva Bush, was ousted in a corruption scandal in 2012.

Once a dependency of Jamaica, the Cayman Islands came under direct British rule after Jamaica declared independence in 1962. Granted greater autonomy in 1972, the islands gained a high degree of self-government under the 2009 constitution but Its first premier, McKeeva Bush, was ousted in a corruption scandal in 2012.

The Cayman Islands (/ˈkeɪmən/) is a Self-governing British Overseas Territory—the largest by population in the western Caribbean Sea.

With No direct taxation, the islands are a thriving offshore financial centre. More than 99,000 active companies were registered in the Cayman Islands as of 2016, including almost 300 banks, 750 insurers, and 10,500 mutual funds. A stock exchange was opened in 1997.

Of the sixteen independent countries in the Caribbean, only eight are republics. This includes Barbados, Cuba, Dominica, Dominican Republic, Guyana, Haiti, Suriname, and Trinidad & Tobago.
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Independent Countries in the Caribbean.

The Cayman Islands is A separate legal jurisdiction to the United Kingdom And has its own laws. There are harsh penalties for those caught with drugs of any kind.

The Cayman Islands, a British Overseas Territory Known the world over as a business haven thanks to its near total lack of taxation, is home to around 65,000 residents.

Cayman Islands Coast Guard

In the Caribbean, 5 countries offer a Citizenship by Investment program. Of those 5, St Kitts & Nevis and Antigua & Barbuda Don’t levy a personal income tax. The remaining 3, Dominica, Grenada, and St Lucia, taxation on foreign income is inexistent or limited.

Tax Laws in the Cayman Islands

The Caymans have become a popular tax haven among the American elite and large multinational corporations because There is no corporate or income tax on money earned outside of its territory.

Currently, Montserrat, the British Virgin Islands, the Cayman Islands, and the Turks and Caicos Islands Remained crown colonies with limited internal self-government.

On 21 February 2022, following the European Commission’s proposal in January, a Commission Delegated Regulation was published in the OJ, which places the Cayman Islands on the EU’s Anti-Money Laundering (AML) ‘blacklist’, along with eight other jurisdictions. The Delegated Regulation comes into force on 13 March 2022.

Cayman Islands passports are a variant of the British passport which are issued to British Overseas Territories Citizens connected to the Cayman Islands. Since 2016, all Caymanian passports are issued in the United Kingdom by His Majesty’s Passport Office (HMPO).