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1. How does the local financial services industry affect Cayman?
2. How is my life/job affected?
3. What would Cayman be like without the industry?
4. How does Cayman’s financial services fit into the Global economy?
5. What is offshore?
6. Why is Cayman an offshore jurisdiction?
7. Why is Cayman so successful?
8. Why does Cayman have a negative international perception in Hollywood, etc?
9. What are the main industries within the FS umbrella?
10. What kind of careers are available?
11. What kind of education is needed for these careers?
12. Why are the biggest firms here in Cayman?
13. What do FS professionals do on a daily basis?

1. How does the local financial services industry affect Cayman?
   Job opportunities, first class training from qualified overseas experts, expenditure in local economy (such as hotels, restaurants, shops, services, etc), and contributions to local charities and cultural events are some of the many benefits that the financial services industry brings to Cayman.
   
   We also enjoy a great global reputation as centre of excellence for offshore financial services, and a great place to live and work.
   
   
2. How is my life/job affected?
   Beyond the enormous opportunities to work in financial services, or for companies that support financial services (HR, IT, catering services, etc), the revenue this sector brings in for the government allows for the level of services Caymanians receive and the salaries and benefits that government can offer its own employees. The presence of this sector and all the employment it creates helps development in Cayman and maintains a generally higher standard of living for everyone through better wages, schools, hospitals, roads, and infrastructure.
   
   
3. What would Cayman be like without the industry?
   Without this industry it would have been extremely difficult for Cayman to recover from hurricane Ivan.
   
   Financial services provide Cayman a significant source of revenues to the government. These funds are used to finance education, healthcare and the country’s infrastructure.
   
   
4. How does Cayman’s financial services fit into the Global economy?
   Cayman’s financial sector helps international corporations and financial institutions to stay competitive globally. This in turn helps the economies of the countries these companies are based in. 45 of world’s top banks use Cayman. 75% of worldwide hedge funds are domiciled in Cayman, recognition of Cayman as top jurisdiction for these transactions.
   
   
5. What is offshore?
   A financial services centre which conducts a significant portion of its financial transactions with non-residents as compared to residents. Many countries are to a certain extent offshore centres, some countries are larger offshore centers than others. The Cayman islands is one of the world’s most significant offshore centres.
   
   
6. Why is Cayman an offshore jurisdiction?
   Because it has no direct taxes, access to professionals who can structure or assist with offshore products, and has the right climate for offshore: great place to live and work, safe, politically stable.
   
   
7. Why is Cayman so successful?
   Strong working relations between government and the private sector, help our industry to be very innovative in terms of designing new services and reacting to market changes. Also features mentioned in 6 above.
   
   
8. Why does Cayman have a negative international perception in Hollywood, etc?
   This is an old perception as a result of when most countries in the world had weak anti money laundering regimes. It was glamorized largely by movie makers who saw great opportunity to mix sea, sand and money/fraud as a receptive image for movie-goers. The entire world has changed in past decade, including Cayman. Cayman has been recognized as having one of the strongest anti money laundering regimes in the world for the past five years.
   
   
9. What are the main industries within the FS umbrella?
   Captive insurance, hedge funds, offshore companies, fund administration, trusts, banking, securitization, and accounting.
   
   
10. What kind of careers are available?
    Lawyers, accountants, fund administrators, corporate administrators, trust practioners, marketing professionals, HR professionals, IT staff, and a host of other middle and upper management positions. Career opportunities are particularly great/exciting as there is a high demand for Cayman Islands services which continues to drive high demand for staff at all levels.
    
    
11. What kind of education is needed for these careers?
    A wide range-- from college degrees, to professional designations such as CPA. CFA and LLB. Also on the job training and executive courses.
    
    
12. Why are the biggest firms here in Cayman?
    It has the right business climate, some of the world’s best professionals and has a significant “brand” in the offshore world that is virtually unmatched anywhere.
    
    
13. What do FS professionals do on a daily basis?
    There are far too many things to list but here is a brief overview: Service clients, providing advice to them on the best way to structure their offshore business activities, giving them ongoing assistance in a wide range of areas from IT to HR consulting, providing assistance with their compliance issues, and auditing their financial statements.