Islands usually have specific legal and financial expertise and also advise private individuals on tax related matters. They may also offer a range of services including providing advice on shareholder tax planning, international tax structuring for multijurisdictional transactions, compliance prior to an overseas acquisition, to employment matters and reducing a business’s tax burden, as well as protecting and exploiting intellectual property. See the Immigration chapter for tax advisors.
Hew’s Cleaning Services Tel: (345) 949 0734 www.hews-janitorial.com Hew’s are a family owned and operated company and have been in the Cayman Islands since 1977. All their work is safe, professional, trustworthy, efficient, friendly and caring. They specialise in maid services, offices, floors, carpets, upholstery, marble, windows, janitorial, mold and microbial remediation, water and fire restoration, as well as post-construction cleanup. Staff are trained in Applied Microbial Remediation and follow all protocols in cleaning
Translation Services The WORC requires that all documents (i.e. medical and police clearance forms) being submitted from non-English speaking countries must first be translated into English and the translated copy notarised. The following company can help you with your translations:
Tel: (345) 945 1781 Email: translations@baraud.com
recommendations.
SE E AD PAG E 186
SETTING UP AN OFFICE
COMMERCIAL OFFICE SPACE The Grand Cayman commercial space rental market is one of the strongest in the Caribbean region, with high demand for all classes of space traditionally in the region of 75,000 sq ft to 125,000 sq ft per annum. The primary source of demand comes from the offshore financial sector, including law
www.baraud.com Baraud’s translation services are approved by both the Immigration Department and the Courts of the Cayman Islands. They offer a quick turnaround of a variety of documents to be translated for immigration or government purposes. The languages currently offered for translations are Spanish, French, Italian, German, Portuguese and Dutch.
Office Cleaning Complete Clean Tel: (345) 939 5148 /325 4922 Email: info@completecleanky.com www.completecleanky.com Complete
Clean
provides
professional
commercial janitorial solutions for businesses, small and large spaces. Their hassle-free and
• Permanent Residency Applications • Residency Applications (RERC) • Naturalization Applications • Caymanian Status Applications • Work Permits • Passports
efficient janitorial and sanitizing services can be custom-tailored to suit your business’s specific needs. They also offer specialty cleaning including tile, carpet, upholstery, and pressure wash. They use the best industry practices and are fully insured. SE E AD PAG E 80 & 185
Website: ww.pearsonwise.com Email: info@pearsonwise.com Phone: (345)949-9666 PO Box 10328, Grand Cayman, Cayman Islands, KY1-1003
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www. c a y m a n r e s i d e n t . c o m
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RUNNING A BUSINESS
Baraud
and disinfecting for COVID-19 according to CDC
firms, accounting practices and insurance/ reinsurance firms. From a retail market perspective, the cruise ship duty free sector has historically been a dominant force, particularly within George Town, but since COVID there have been no cruise ships and they may not return until 2023. The market comprises of close to 4 million sq ft of space in all classes, which breaks down to roughly 1.25 million sq ft of Class A office space, 1.75 million square feet of Class B space and close to 300,000 sq ft of retail. Class A cruise ship/duty free retail locations are rare and transact at high value. Average vacancy rates vary by class and location, from as low as 2-3% for Class A+ to A space, 5-10% for Class A- to B+ and around 15%-20% for Class B and C space. Within these averages, there is a wide variety of vacancy rates, for example, some Class B properties in central George Town have vacancies of between 25% to 35%. This has been largely due to the exodus of larger corporate tenants from the typically
