I was in Cayman Island recently and was fascinated by how developed it is. Sharing some of the interesting facts here
1 – Cayman has its own currency; the Cayman Island Dollar (CI$). This is tied to the U.S. dollar and does not fluctuate from it. The cash exchange rate is CI$1.00 = US$1.25.
2 – There is no income tax, capital gains tax, or corporation tax. There is a 10 percent government hotel tax and a stamp duty ranging from 7 ½ to 9 percent on the value of real estate at sale. A departure tax of CI$20 is also collected when you leave the Caymans
3 – Grand Cayman is the 5th largest financial center in the world. It ranks after London, Tokyo, New York and Hong Kong.
4 – There are more than 449 banks and 115 trust companies licensed in the Cayman Islands.
5 – There are no casinos on the Cayman Islands.
6 – You will see equal number of left hand and right hand cars.
7 – The world-famous ‘Seven Mile Beach’ is actually only 5.2 miles long.
8 – There are no embassies in Cayman Island but 13 consulates.
9 – The birthplace of recreational diving. There’s over 150 diving sites on Grand Cayman Island. The island will soon have 365; one for each day.
10 -There is a place called Hell in Cayman Island.
11 -The Cayman Island Turtle Farm is home to 16,000 green sea turtles at any given time.
I have posted few pictures at my facebook page.