Cayman

British Overseas Territory in the western Caribbean, operating a common law system derived from English law with final appeal to the Privy Council. Financial services sits alongside tourism as one of the two pillars of the economy.

Its standing as a fund domicile rests on tax neutrality at the vehicle level, a registration regime measured in days rather than months, and a deep bench of administrators, offshore counsel and independent directors on one island. The exempted limited partnership, the exempted company and the segregated portfolio company are the forms these routes are built in. Managers themselves usually sit elsewhere. The island supplies the vehicle and the people who service it.