The Cayman Islands is the global leader for mega-yacht
registrations. With its sight now firmly set on bringing shipping
companies and maritime service providers to Cayman, the Special
Economic Zone in the Cayman Islands (the "SEZ"), pursuant
to The Special Economic Zones (Cayman Enterprise City) (Amendment)
Order, 2015, has recently created the Cayman Maritime Services
This park has been designed to attract maritime services
businesses to assist in the establishment of the Cayman Islands as
the largest maritime cluster in the region. Companies such as ship
owners, shipbrokers, shipping financiers, technology companies and
start-ups engaged in innovative maritime research and development,
head offices or satellite offices of maritime industrial businesses
and yacht manufacturing and repair businesses; demurrage
calculation and post deal expenses calculation; freight trading and
brokerage businesses; crew salaries and benefits processing
companies; bunker brokerage companies; shipping operations;
logistics planning and vessel management companies; management
consulting; and other specialized services to maritime sector
businesses can all now set-up operations in the Cayman Islands
under the SEZ regime.
Originally created in 2011, the SEZ now comprises seven parks:
(1) Cayman Internet Park; (2) Cayman Science and Technology Park;
(3) Cayman Media Park; (4) Cayman Commodities & Derivatives
Park; (5) Cayman Outsource Park; (6) Cayman International Academic
Park; and (7) Cayman Maritime Services Park.
For further background reading on the SEZ please see attached
link to our
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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On 22 September 2016, the General Civil Aviation Authority of the UAE issued the new Civil Aviation Regulations Part IV – Foreign Operators Regulation. The FOR shall apply from 1 October 2016.
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