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The Cayman Islands' tax-free status has attracted numerous banks and other companies to its shores. More than 92,000 companies were registered in the Cayman Islands as of 2014, [13] including almost 600 banks and trust companies, with banking assets exceeding $500 billion.
In 1952, construction started on an official airstrip at an estimated cost of £93,000 to construct airports on all three Cayman Islands, a 5,000 ft (1,524 m) runway, along with a terminal was constructed on Grand Cayman at the cost of £100,000.
The Cayman Islands (/ ˈ k eɪ m ən /) is a self-governing British Overseas Territory, and the largest by population.The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located south of Cuba and north-east of Honduras, between Jamaica and Mexico's Yucatán Peninsula.
The Cayman Islands are a British overseas territory. The islands lie in the northwest of the Caribbean Sea and are situated about 500 miles (800 km) south of Miami, 180 miles (290 km) south of Cuba, and 195 miles (314 km) northwest of Jamaica. Grand Cayman is the biggest island, with an area of 76 square miles (200 km 2).
With its success in the tourism and financial service industries, the Cayman Islands have attracted many international businesses and citizens to relocate. The largest numbers of expatriates living in the Cayman Islands hail from Jamaica (11,703), the United Kingdom (1,708), the Philippines (4,119), and India (1,218).
One hundred and twenty-three ships (of 1,000 GT or more) are registered in the Cayman Islands, with a total capacity of 2,402,058 GT/3,792,094 tonnes deadweight (DWT). Some foreign ships (including vessels from Cyprus, Denmark, Greece, Norway, the UK, and US) are registered in the Cayman Islands under a flag of convenience. (All figures are ...
Grand Cayman is the largest of the three Cayman Islands and the location of the territory's capital, George Town. In relation to the other two Cayman Islands, it is approximately 75 miles (121 km) southwest of Little Cayman and 90 miles (145 km) southwest of Cayman Brac. Location of Grand Cayman (circled), south of Cuba and the Florida peninsula
In the 21st century, approximately 113 nationalities make up the residents on the three islands comprising the country. The total population of the Cayman Islands is 81,546 people spread throughout the island group, with the majority of the people found on Grand Cayman.