The Cayman Islands comprise three Islands situated 500 miles south of Miami, Florida in the Caribbean. Grand Cayman is the largest and is the centre for business and government. Cayman is among the world’s largest financial centres, hosting a number of international accountancy practices and investment banks. All of the leading offshore law firms are in Cayman, with Maples and Calder and Walkers the largest of these.
Cayman Attorneys are some of the best paid in the world, with salaries ranging from US$150k for someone with three years’ PQE to US$300k for Senior Associates. Bonuses can be as much as 30% and some firms offer commission based compensation. Salaried partners earn from US$250k to US$750k. Top of Equity runs into the millions of dollars at the elite firms. The cost of living is similar to London. There is no income tax.
Unless you are a Cayman national, you must have a minimum of three years’ pqe obtained in a Commonwealth jurisdiction, so lawyers tend to be recruited from London and the other major Commonwealth jurisdictions, such as Australia, New Zealand and Canada. Admission is of right.
A work permit must be obtained, for which you will be required to complete a medical and obtain a police clearance certificate. The work permit process can take 8-12 weeks.
Married spouses have a right to reside in Cayman, however unmarried partners must obtain their own permit. Spouses will need to complete a medical nonetheless.
Cayman offers the combination of living on a tropical island, with a US style infrastructure. Accommodation, schools, roads, hospitals and restaurants are all of a very high standard.
Attorneys are expected to work similar hours to City lawyers. However commute times are ten minutes on average, which enables most lawyers to meet friends and family for lunch and be home in time to have dinner with their family, go to the gym or socialise after work.
Cayman enjoys year round sunshine and has some of the finest beaches and clearest water in the Caribbean. The weekends feel like a holiday and most people spend it playing sports, such as diving, water-skiing, cricket, rugby, golf and tennis, enjoying short trips to neighbouring Cuba and Jamaica, or simply spending time with friends and family.