Very expensive costs with a Cost of Living Index (CPI) of 116.1, indicating significantly higher prices than New York City. Groceries (121.8) and restaurant prices (99.0) are also high.

Property prices are relatively affordable at 6.6 years of household income. The rental market, with a Rent Index of 71.5, is moderately expensive compared to New York City.

An excellent Purchasing Power Index of 167.0 indicates significantly higher buying power than New York City, suggesting strong average incomes.

The Cayman Islands operates a tax-neutral system with no personal income tax, corporate tax, capital gains tax, inheritance tax, or annual property tax. Government revenue is primarily generated through import duties and stamp duties on property transfers, which are generally 7.5%, increasing to 10% for properties valued at CI$2 million or more as of January 2026.

The Cayman Islands is consistently ranked as the least complex jurisdiction for doing business globally, offering a straightforward environment with minimal bureaucracy. It boasts a robust financial services sector and a growing startup ecosystem, particularly in blockchain and biotechnology. However, businesses face challenges from rising costs and policy execution issues.

The Cayman Islands has a mandatory, insurance-based healthcare system requiring all residents, including expats, to hold a Standard Health Insurance Contract (SHIC). Employers are legally required to contribute at least 50% of employee premiums. Healthcare facilities are modern and offer world-class services, though private supplementary insurance is often recommended for broader coverage.

The Cayman Islands does not currently have a formal deposit guarantee scheme. However, the financial system is stable and resilient, overseen by the Cayman Islands Monetary Authority (CIMA). CIMA ensures strong bank capitalization and compliance with international standards like Basel III, and the jurisdiction was removed from the FATF 'grey list' in 2024, indicating robust anti-money laundering frameworks.