Cayman Islands

Employer of Record (EOR) in Cayman Islands

Only 399 EUR per employee per month

Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Cayman Islands . We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business. Our Employer of Record (EOR) solution is beneficial to companies that want to hire remote employees in a breeze. On this page you will find employment information for Cayman Islands.

Employer of Record people
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Currency
Cayman Islands Dollar
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Capital
George Town
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Region
Americas
Megaphone
Language
English
Hire remote employees
Population
65722
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GDP
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GDP growth
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Ease of doing business
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World GDP share

1. Grow your team in Cayman Islands with Rivermate as your Employer of Record (EOR) / PEO

Payroll, benefits, taxes, and compliance can be difficult to manage in Cayman Islands , particularly if you don't have established local relationships. You can hire employees in Cayman Islands effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

2. Summary

The Cayman Islands is the most populous self-governing British Overseas Territory in the western Caribbean Sea. The three islands of Grand Cayman, Cayman Brac, and Little Cayman make up the 264-square-kilometer (102-square-mile) territory, which is situated south of Cuba and northeast of Honduras, between Jamaica and Mexico's Yucatán Peninsula. The capital city is George Town on Grand Cayman, the largest of the three islands.

The Cayman Islands are regarded to be part of both the Western Caribbean Zone and the Greater Antilles. The territory is a key global offshore financial hub for foreign firms and affluent people, owing to the state's refusal to tax any revenue produced or stored.

The Cayman Islands boasts the greatest quality of life in the Caribbean, with a GDP per capita of $91,392. The economic prosperity of the area draws numerous employees from all over the globe. The Cayman Islands are home to immigrants from over 130 nations and territories.

Hiring talented employees in a short span is not an easy task. Partnering with an Employer of Record (EOR) like Rivermate in Cayman Islands is your best option, giving your organization enough time to focus on other aspects of international expansions like project management and inventory management. The EOR takes care of all the compliance and legal issues while helping you speed up hiring using their knowledge of domestic employment practices and virtual onboarding tools. Top EORs also have provisions for the e-signing of documents to enable faster onboarding.

3. Public holidays

4. Types of leave

There is no information about the types of leave for this country.

Paid time off

Employees with up to four years of experience are entitled to two weeks of paid voluntary leave. For up to ten years of service, this rises to three weeks. This rises to four weeks after ten years.

Public holidays

New Year’s Day

National Heroes’ Day

Ash Wednesday

Good Friday

Easter Monday

Discovery Day

Queen’s Birthday

Constitution Day

Remembrance Day

Christmas Day

Boxing Day

Sick days

Employees are entitled to ten days of entirely paid maternity leave, and after three days of absence, they must have a medical certificate.

Maternity leave

After a year of service, female workers are entitled to 12 weeks of maternity leave, which is prorated if they have served less than a year. The first 20 days was entirely charged, followed by a half-pay reminder. They will decide how much time off they can take before and after the deadline. Maternity leave is paid for by the company.

For an infant under the age of three, they are often entitled to nine weeks of adoption leave.

Paternity leave

There is no statutory paternity leave in the Cayman Islands laws.

Parental leave

Other than the already mentioned terms regarding maternity and paternity leaves, there are no other provisions regarding parental leave in the Cayman Islands.

Other leave

5. Employment termination

There is no information about employment information for this country.

Termination process

Employers have the option of terminating employees upon the expiration of their fixed-term contract or by providing notice. When an employee commits misbehavior that is not severe enough to justify dismissal, the employee may get a written warning; if the employee commits misconduct again within a year, the employer may terminate the employee's employment. If an employee believes their dismissal was unjust, they may submit a complaint with the company's director within 90 days after the dismissal, and a labor tribunal will evaluate if the dismissal was justified.

Notice period

A month's notice is typically necessary.

Probation period

The probation period is capped at six months and can be extended once. However, it can be terminated at any time.

Severance pay

Severance pay is paid to employees with one year of service. Pay is one week for each year of service, up to a maximum of 12 weeks.

6. Working hours

There is no information about the working hours for this country.

General working schedule

The standard workweek is 45 hours long and has a daily maximum of nine hours. Each week, employees receive a 24-hour rest period and a 30-minute break after five hours of work.

Overtime

Overtime is typically compensated at a rate that is a percentage higher than the regular rate.

7. Minimum wage

There is no information about the minimum wage for this country.

The National Minimum Basic Wage is 6.00 Cayman Islands Dollars per hour for the majority of employees, and 4.50 Cayman Islands Dollars per hour for service employees of an employer with a registered gratuities scheme.

8. Employee benefits

There is no information about the employee benefits for this country.

Employers are required to provide Standard Health Insurance to their employees, and the expense is shared equally by the employees.

9. Taxes

There is no information about the taxes for this country.

Corporate tax

Cayman Islands is a tax-free jurisdiction. Corporations are not subject to income, capital gains, profit, or other types of direct taxes, regardless of their residency status.

Individual income tax

Cayman Islands is a tax-free jurisdiction. Corporations are not subject to income, capital gains, profit, or other types of direct taxes, regardless of their residency status.

VAT, GST and sales tax

Cayman Islands is a tax-free jurisdiction. Corporations are not subject to income, capital gains, profit, or other types of direct taxes, regardless of their residency status.

10. VISA and work permits

There is no information about VISA and work permits for this country.

The Cayman Islands government establishes and enforces entrance requirements. Contact the embassy, high commission, or consulate of the nation or territory to which you are going for further information. Check with your transportation provider or travel business to ensure that your passport and other travel papers fulfill their criteria.

The Cayman Islands' airports are presently operational, with frequent scheduled flights to a variety of destinations, including the United Kingdom through the Bahamas, the United States, Jamaica, and Honduras.

The Cayman Islands entered Phase 4 of their border re-opening strategy on November 20, 2021. Certain travelers are now excluded from quarantine and must instead submit to lateral flow testing on days 2, 5, and 10. Rules have also been changed about who may go to the Cayman Islands, how to apply for entry, and what immunizations are permitted.

The COVID testing timetable was adjusted on December 17, 2021, to no early than the day before flight. This replaces the prior 72-hour pre-travel testing schedule. It is permitted to give an authorized test (PCR or LFT) after midnight the day before departure. All travel-related testing is at the traveler's expense.

'Departures' include any connecting flights or transit flights to the islands if the stopover time is shorter than 12 hours.

11. Employer Of Record service terms

There is no information about the Employer of Record (EoR) service terms for this country.

Employment contracts

Employers are required to furnish workers with a formal employment contract within 10 days of hiring them. It must include information on yearly leave, sick leave, and maternity leave, as well as the probation term, notice period, work hours, and health and safety.

With Rivermate being your Employer of Record (EoR) in Cayman Islands, you do not have to worry about the employment contracts, as we take care of that.

Minimum assignment length

Employers may utilize fixed-term contracts with a specified start and end date for workers. They may also utilize indefinite contracts, where the job is permanent when the trial time is finished satisfactorily.

Payment currency

Cayman Islands Dollar (KYD)

United States Dollar (USD)

13.Opening a subsidiary in Cayman Islands

There is no information about the working hours for this country.

How to set up a subsidiary

Subsidiary laws

13. Why choose Rivermate as your Employer of Record / PEO in Cayman Islands

Establishing an entity in Cayman Islands to hire a team takes time, money, and effort. The labor law in Cayman Islands has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Cayman Islands simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Cayman Islands give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Cayman Islands via our Employer of Record (EOR) / PEO solution.

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