Foreign investors are not particularly welcome. The law requires that Caymanian citizens must own 60% of all locally trading companies. Of course management-contracts can divert more than 40% of the profits to an overseas investor, but the latter can never build up more than 40% of the equity.

It's very easy to register a company. There are tens of thousands registered here, though most of them are "offshore" tax-haven companies set up to own assets secretly held. There is no corporate tax, and no Income Tax. Govt gets its revenue from import-duties and the like, and from fees for those tax-haven companies, hedge funds etc.

Wages are high for professionals employed in the tax-haven sector but low for those in unskilled jobs. No labour unions. All Work Permit employees are required to be indentured to specific employers, not all of whom willingly allow expats to switch jobs. Cost of living is high by North American standards. We have more foreign employees than local, and the ethnic Caymanians emphatically do NOT welcome even more foreigners. Societal tensions exist between foreign-born residents (including citizens) and ethnics.

My wife and I have lived here for 34 years (and counting) and are very comfortable here, to the extent we can ignore the "near-slavery" aspects of the indentured-labour system for domestic workers. She works in a professional firm, and earns enough to keep me in modest retirement... 25 years ago I established the first full-time office of the local Chamber of Commerce. Now, I am a full-time commentator on local life. My newspaper columns aren't online, regrettably, but my blog is at http://www.barlowscayman.blogspot.com.

I will be glad to answer general questions on this topic.