Cayman Islands
The Cayman Islands are a British Overseas Territory in the western Caribbean, comprising Grand Cayman, Cayman Brac, and Little Cayman.
Grand Cayman: The largest and most populous island of the Cayman Islands, home to George Town and the territory’s capital. Its size, capital, and main airport make it the territory’s center of population and commerce.
Christopher Columbus: An Italian maritime explorer whose 1494 voyage reached the islands now known as the Cayman Islands. His expedition recorded the islands during Spain’s expansion across the Caribbean.
Cayman Islands financial services industry: An international finance sector centered on banking, investment funds, insurance, and corporate services. It is a major source of economic activity and gives the territory global financial significance.
Cayman Islands dollar: The official currency of the Cayman Islands, issued by the Cayman Islands Monetary Authority. Its fixed exchange relationship with the US dollar supports commerce and financial transactions.
Cayman Brac: An island in the Cayman Islands, east of Grand Cayman, known for its limestone bluff. Its raised, rugged terrain contrasts with Grand Cayman’s low-lying landscape.
Treaty of Madrid (1670): A treaty in which Spain recognized English possession of Jamaica and other English Caribbean territories. It established the colonial framework under which the Cayman Islands were administered from Jamaica.
Offshore financial centre: A jurisdiction providing financial services to nonresidents, often under distinct tax and regulatory rules. The Cayman Islands are widely used as a cross-border financial jurisdiction.
Cayman Islands Monetary Authority: The financial regulator and currency-issuing authority of the Cayman Islands. It supervises the financial sector that underpins the territory’s international business.
Little Cayman: The smallest and least populous of the Cayman Islands, lying between Grand Cayman and Cayman Brac. Its small population and protected natural areas give it a distinct role in the territory.
Jamaica: An island country in the Caribbean that was a British colony until independence in 1962. The Cayman Islands were governed as a dependency of Jamaica before Jamaica’s independence.