Economic pillars of the Cayman Islands

Image source: cruisemapper.com

About 290 kilometers northwest of Jamaica and 160 kilometers south of Cuba, lies the British Overseas Territory of the Cayman Islands, one of the world’s leading offshore investment and financial services centers recognized by the biggest players in the global finance industry. The islands encompass three major regions: Little Cayman, Cayman Brac, and the Grand Cayman.

Aside from being a tax-efficient jurisdiction favored by giant multinational corporations and wealthy individuals, the Cayman Islands has a lot more to offer. Local residents are engaged in numerous industries and are all helping the region diversify into newer frontiers. Here are some of the sectors that have significantly helped boost the islands’ growing economy:

Tourism

Located in the Western Caribbean Sea, the Cayman Islands is a popular destination for international travelers. The largest island, Grand Cayman, is known for its pristine beach resorts and mesmerizing diving and snorkeling spots. On the other shores, Cayman Brac is a launch point for other activities like deep-sea fishing excursions. The smallest island, Little Cayman, is a sanctuary of diverse wildlife and is home to several endangered species such as iguanas and seabirds.

Banking

Banking in Cayman is a flourishing sector, thanks to multinational bankers that continuously rely on the region’s efficiency and client-centered policies.  Recent records reveal that there are 140 foreign banks currently operating in the Cayman Islands, and only 18 banks are domestic. Most of these banks are either branches or subsidiaries of international firms from Canada, United States, Europe, and Asia.

Insurance and Finance

The Cayman Islands is an important player in the global financial market, allowing legal and efficient transactions between the users, and their investment capital and financing providers. Thanks to its client-focused market leadership in the financial sector, the islands continue to attract new international clients from the developed world.

Three tech companies that are redefining modern living

Image source: fortune.com

The dawn of technology brought forth innovations that have not only improved people’s way of life but have transformed how the world sees the future. Today, we’re witnessing an era of boundless opportunities, and that is all thanks to the game-changers, the powerful companies, and institutions that broke the limits of not only our imagination but of our perception of reality as well.

Here are some of the most influential and powerful companies that continue to imagine, innovate, and beat the odds.

  1. Facebook

With over two billion active users every month, Facebook is one of the fastest growing tech companies in the world and its influence have contributed to a global avenue where people from every part of the continent can interact with one another with a single click. Nearly a staple in most portfolios—including offshore investments—this social media giant has taken on other business ventures beyond the platform, investing in different innovations like virtual reality and augmented reality technology.

  1. Microsoft

As a resident member of the Fortune 500, Microsoft’s influence in the tech industry remains dominant even after years since it was established. Aside from the company’s massive investments in the cloud computing technology, its mission of making the world a better place by focusing most of their assets of corporate and social responsibility with two primary goals: through the power of technology, protect human rights and save the planet.

  1. Tesla

Tesla is an emerging that has been making headlines because of its visionary and oftentimes ambitious projects. Despite the early failures, this tech giant’s role in making environmentally-friendly technology available to everyone has made it one of the most important front-runners of future tech. The company focuses on different projects committed to social responsibility: solar-panel manufacturing, sustainable energy storage, to name a few.

Retirement Investment Updates: The 3 Places To Invest Money This 2016

Among the many surefire areas to invest money this (pretty much any given year) 2016 is the area of real estate also known as REIT. If you are looking forward to a good retirement income, this is the time to invest in real estate. The dividends are high and there is a huge chance that your money would even grow in the future to the point that people would actually bid for it. Putting your money in real estate is only quite risky during recessions and when the market totally hits rock bottom. But the good news is, this year is neither those two so you’re pretty much in good hands. Dare I say it, this year is looking good!

But just because 2016 is promising, it doesn’t mean you could just slack with your strategies. It is a must to take advantage of this great opportunity to expand what you have and make great decisions with your investment because the future would actually do well for you if you do the present right. As promised, this article 3 of the best places where you could put your money in this time of the year.

 

  1. Public Storage: also known as PSA in NYSE. Believe it or not, but this is quite an in demand market in the United States. According to a recent report done by The Motley Fool, about 2, 2000 storage facilities are available in this country and not a lot of people are actually seeing it as a lucrative business. These days, many keep on buying and are worrying where to place them. This is your chance to gain customers if you know what I mean.
  2. Realty Business: also known as O in NYSE. This is going to be in retail and for some, it does sound like it is a risky idea. But the truth is, it is not that bad at all. It is not exactly the typical retail everyone is assuming of. In fact, there are three categories that define what I’m talking about here: The non-discretionary retail are for items that people buy according to their Real Estate Investment Trustneeds and not their wants. Service business is pertaining to businesses that serve people in person. This means customers have to go to a physical store or shop to gain services from the said business. And low price points are stores where you could find really cheap products like The Dollar Store. I’ll go deep into these topics if you stick around but for now, I’ll give you a brief meaning of these three.
  3. Welltower: now known as HCN in NYSE but it was also known as Health Care REIT. This one involved healthcare equipment and properties. The demographic trends for this area are high, so it won’t be risky to your money in it.

 

These 3 areas would come in handy for those who don’t know where to put their retirement investment money just yet. Now that you have these facts, strike while the iron is hot! Check out LOM if you are interested in utilising mutual funds.