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Capital City
George Town
Currency
Cayman Islands Dollar
(
$
)
Timezone
GMT-5
Payroll Frequency
Tax Year
Employer Tax
Languages
English
Capital City
George Town
Currency
Cayman Islands Dollar
(
$
)
Timezone
GMT-5
Payroll Frequency
Tax Year
Employer Tax
Languages
English
The Cayman Islands is a global financial hub with a well-established financial services industry, offering opportunities for businesses in banking, investment, and insurance sectors.
Cayman Island boasts a tax-friendly environment with no direct taxes on income, making it attractive for businesses and employees seeking financial benefits.
The islands have a diverse workforce comprising local residents and expatriates, providing a multicultural and multilingual environment.
Despite its size, the Cayman Islands maintain a stable economy, backed by its financial sector and robust tourism industry, offering a stable business environment for growth and development.
Businesses can only operate smoothly in Cayman Island if they comply with local labor laws including drafting compliant employment contract agreements and meeting taxation and payroll obligations. Learn more about the employment laws and regulations in Cayman Island below, to avoid any compliance issues.
We can help you get a new employee started in Cayman Island quickly, with a minimum onboarding time of just 1-2 working days. The timeline starts once the employee submits all required information onto the Playroll platform and completes any necessary local authority registrations. For non-nationals, the Right to Work assessment (if applicable) may add up to three extra days. Additional time may be needed for follow-ups on this assessment.
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The payroll cycle in Cayman Island is usually Monthly, with employees being paid as stipulated in employment contract.
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In the Cayman Islands, work permits and visas are essential for employers hiring foreign workers. The process involves several steps, including submitting applications, paying fees, and meeting specific eligibility criteria. Key visa types include the Temporary Work Permit for short-term employment, the Employment Rights Certificate (ERC) for long-term skilled positions, and the Work Permit for Key Employees for high-level professionals. Employers must ensure compliance with local labor regulations and the immigration process when sponsoring foreign workers.
The annual leave entitlement in Cayman Island is 14 days for a full time worker. These can include public holidays on top of that or within those days, which would otherwise be unpaid.
An Employer of Record (EOR) helps businesses manage annual leave, paid time off (PTO), and local holidays across the globe, including in Cayman Island. By partnering with an EOR, companies ensure full compliance with local labor laws in Cayman Island when it comes to annual leave and time-off management. EOR providers like Playroll offer platforms that simplify tracking and managing employee time off in Cayman Island. By outsourcing this responsibility to Playroll, you can streamline leave management, ensure compliance, and free up time to focus on other business priorities.
Disclaimer
THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL OR TAX ADVICE. You should always consult with and rely on your own legal and/or tax advisor(s). Playroll does not provide legal or tax advice. The information is general and not tailored to a specific company or workforce and does not reflect Playroll’s product delivery in any given jurisdiction. Playroll makes no representations or warranties concerning the accuracy, completeness, or timeliness of this information and shall have no liability arising out of or in connection with it, including any loss caused by use of, or reliance on, the information.
ABOUT THE AUTHOR
Jesse Weisz
Jesse is an experienced R&D Analyst at Playroll, a leading Employer of Record (EOR) provider. With a strong background in data analysis and market research, Jesse specializes in identifying emerging trends and driving innovation in global HR solutions. She is an all-rounder, critical thinker and success-seeker (often inextricably linked to being a late-night tea drinker).
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