Anyone Work in Cayman Islands recently?

This is starting to look like my preferred destination to seek work. I am getting close to finishing my studies which are fund industry specific and I know that these kind of jobs are what the island specializes in.

Can't come across anyone who has lived there recently and just wondering what kind of place in general is it to live. I have read where it can take months to get a work visa and there are strict rules around residing there. The bottom line I guess, is it worth the effort to get out there to work and is it rewarding? Also is the cost of living affordable on an average salary?

Thanks in advance.

impr0v

I haven't worked there myself but I work with a number of individuals who have worked there for short periods. Their main comment on the place was that it was, in some ways, like working in a fishbowl. The place is so small that you will work with your colleagues all week, meet them out on Friday and/or Saturday night wherever you go, and then meet them in the supermarket on Sunday. The standard of living is good. As I'm sure you know, there is no income tax. However, sales tax is high on most ordinary groceries and other consumables. To avoid the sales tax, and the fishbowl effect, many people fly to Miami regularly, for weekends.

Take all the above with a pinch of salt as, per the above, it is all second hand information.

bamboozle

check out the accounting forum, lots of irish accountants head over there for a few years, i've never been but colleagues i know like it etc however all warn about ridiculous cost of accommodation.

Glenbhoy

I've spent some time there and know a few who've worked there.

Afaik it's unlikely you'll get a job there without experience so you'll need a few years work somewhere before going there, each job vacancy on the island must be advertised in the local press, only if someone with the relevant qualifications and experience cannot be found locally can a work permit be obtained. That is why most people moving there are qualified professionals eg, nurses, teachers, doctors, accountants etc.

The normal route into funds is via the big 4 accountancy, you take a job as audit senior in Cayman and then move into a fund position. I don't know of many people who have moved directly into fund positions, but it may happen.

The island itself is your standard paradise island, weather is good all year around (bar hurricane season - July - Oct/Nov), very humid in summer and very pleasant from Nov - April.

Rents can be extremely expensive (but I hear there are a few more reasonable locations away from the beaches nowadays), eating out is extremely expensive, supermarket food is fairly expensive. Almost everything has to be imported onto the island.

I would agree with previous posters that the island is a goldfish bowl, you will meet everyone you know with great regularity, this island fever can be alleviated by taking regular flights to Miami.

One thing I found particularly annoying about the island was that everything closes down at midnight on a Saturday, now Friday is open late so you may not be in the mood for late night partying, but....

All in all, I would be happy to recommend it for 2 yrs max, but you would need to be getting decent money in order to enjoy it properly and I wouldn't be expecting to take much home, even though it is substantially tax free.