Creating Cayman as an Offshore Financial Center: Structure & Strategy Since 1960

77 Pages Posted: 24 Sep 2013

See all articles by Tony A. Freyer

Tony A. Freyer

University of Alabama - School of Law

Andrew P. Morriss

Bush School of Government & Public Service / School of Law; PERC - Property and Environment Research Center

Date Written: September 22, 2013

Abstract

The Cayman Islands are one of the world’s leading offshore financial centers (OFCs). Their development from a barter economy in 1960 to a leading OFC for the location of hedge funds, captive insurance companies, yacht registrations, special purpose vehicles, and international banking today was the result of a collaborative policy making process that involved local leaders, expatriate professionals, and British officials. Over several decades, Cayman created a political system that enabled it to successfully compete in world financial markets for transactions, participate in major international efforts to control financial crimes, and avoid the political, economic, racial, and social problems that plague many of its Caribbean neighbors. Using archival sources, participant interviews, and a wide range of other materials, this Article describes how the collaborative policy making process developed over time and discusses the implications of Cayman’s success for financial reform efforts today.

Keywords: Cayman Islands, Offshore Financial Centers, Offshore, Legal History, Financial Law

Suggested Citation

Freyer, Tony A. and Morriss, Andrew P., Creating Cayman as an Offshore Financial Center: Structure & Strategy Since 1960 (September 22, 2013). Arizona State Law Journal, Forthcoming, U of Alabama Legal Studies Research Paper No. 2329827, Available at SSRN: https://ssrn.com/abstract=2329827

Tony A. Freyer

University of Alabama - School of Law ( email )

P.O. Box 870382
Tuscaloosa, AL 35487
United States

Andrew P. Morriss (Contact Author)

Bush School of Government & Public Service / School of Law ( email )

4220 TAMU / Room 2141
2129 Allen Building
College Station, TX 77843-4220
United States

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
1,047
Abstract Views
5,351
rank
26,559
PlumX Metrics