Check out these Frequently Asked Questions
What is TechCayman?
We are an IT enabling company formed to develop a thriving Tech industry and
culture in the Cayman Islands. Visualize TechCayman as a portal through which existing
and new companies operate in the Cayman Islands while enjoying a unique range of
advantages specific to our network.
How do I know if my company is eligible to become a sponsored enterprise of TechCayman?
If you are an IT or Tech company doing business outside of the Cayman Islands, you are
eligible to become a sponsored enterprise of TechCayman.
Why should my company consider becoming a sponsored enterprise of TechCayman?
- Guarantee of no corporate, income, sales or capital gains tax for 30 years
100% foreign ownership allowed
Individualized set up with concierge administrative & relocation services
30-day turnaround business licensing program
Renewable 3-year work permits granted in 10 days
No restrictions on the number of work permits
Dependents welcome with no restriction on their eligibility to seek employment
Freedom to establish an office anywhere in the Cayman Islands
No government reporting or filing requirements
Daily direct flights to the Americas
Central Time Zone equals competitive advantages
Exceptional quality of life in year-round warm, tropical climate
What is the step-by-step process for joining TechCayman?
Your first step is to speak with members of TechCayman’s Business Development team to determine if your business model and plan fit within the parameters of our model. If so, you will sign a Sponsored Enterprise Agreement that will avail your company to TechCayman’s exclusive offerings.
Next, you will provide our Client Services Team with a working list of your relocation needs, including office space, accommodations, and employee details. We will assist in incorporating your company within the Cayman Islands and applying for a license to operate.
Our entire streamlined process will take no more than 30 days, starting from the time you sign your agreement until our team can submit your first work permits. Work permit applications for all relocating employees will be submitted with a 10 day approval process, which means you can be open for business within 50 days of our first conversation.
Do I have to be in the Cayman Islands to apply?
No, you do not have to be in the Cayman Islands to apply. Our 30-day start-up process can be done remotely from anywhere in the world. Our team will be with you for each step of the
way, and will ensure your experience is seamless.
Must I form a new company or does TechCayman accept existing companies?
Existing companies will need to be amended to obtain registration in the Cayman Islands as a sponsored enterprise of TechCayman. Our Client Services Team will provide support thorought this simple process.
Does TechCayman provide office space?
We are uniquely unmarried to any specific location so the more information you give
us about your needs, the better suited we are to locate and secure your perfect space in the
best location. We have access to everything from shared work spaces to fully customized office suites in various locations around the island, and encourage our sponsored enterprises to enjoy the freedom of choice.
Can a company open a virtual office or does there need to be a physical presence in the Cayman Islands?
To become a Sponsored Enterprise of TechCayman and to benefit from our unique
offerings, you will need to establish a physical presence in the Cayman Islands.
Our model is to develop an ecosystem of Tech-based companies and to ensure IP and/or services are created, developed and managed in the Cayman Islands.
The Cayman Islands offer extraordinary opportunities for work/life harmony, and we want to ensure our sponsored enterprises not only benefit from TechCayman’s unique offerings, but also from the lifestyle that comes from relocating here.
Can I join TechCayman as an individual or do I need to form a company?
To become a sponsored enterprise of TechCayman you do need to form a company. If you
don’t already have a relationship with a legal team in the Cayman Islands, we can introduce
you to our trusted legal network.
What is the tax structure for companies formed in the Cayman Islands?
The Cayman Islands are a tax neutral jurisdiction, and as such there are no corporate,
income, personal nor capital gains taxes. Requirements of other country’s tax requirements
do need to be considered.
Is it difficult to open a bank account in the Cayman Islands?
As a sponsored enterprise of TechCayman you will have access to our preferred banking
network and our Client Services Team will assist you through our efficient process.
How can TechCayman help my company with recruiting?
We can facilitate introductions to qualified Caymanians and we strongly encourage the
practice of hiring locally. We also have access to an overseas network of IT professionals.
What are the employer requirements with regard to Health Insurance and Pension Plans?
All employees, whether hired locally or recruited from overseas, must be signed up with
a local health insurance provider and local pension provider, even if the employees have
health and pensions plans in their home countries. Our team can provide you with details
on available plans and our preferred providers.
Is there a TechCayman Client Service Team to help with relocation? Housing? Schools? Vehicles?
Our Client Services Team is here to make each aspect of your move to the Cayman Islands
seamless and stress-free.
Can my spouse and children come too?
Of course your spouse and children can be added as dependents on your work permit, and there is no additional cost for this.
What school system is used in the Cayman Islands?
Schools in the Cayman Islands follow either British or American systems. Our Client Services Team can help you with this process.
Can I bring my pets with me?
As long as your pet is not on the endangered species list and meets the requirements of
the Cayman Islands Department of Agriculture, it (they) can relocate with you.
Where will I live if I relocate to the Cayman Islands?
There are many residential properties available for rent or purchase and our TechCayman
Client Services Team will be invaluable to you during this process.
We liaise regularly with our network of real estate professionals and private owners to ensure we have current information on prime locations and available properties.
What is the best way to learn more about the Cayman Islands?
Is there good health care in the Cayman Islands?
Cayman offers World Class health care to residents and medical tourists alike. We have fully equipped hospitals, and dozens of private clinics, walk in clinics and specialty clinics.
What kind of international cuisine is available in the Cayman Islands?
More than 130 nationalities live and work here, and our grocery stores reflect this diversity. We have a number of supermarkets with a range of locations across the islands, and many host a wide selection of specialty food items that are restocked daily.