Possible to work in Cayman Islands? Forum

[Anonymous User]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

[jamestaylorrecordsas]

Are you comfortable with people associating "Cayman Islands" with fraud?

[Anonymous User]

Are you comfortable with people associating "Cayman Islands" with fraud?

100% I don't really care about people's uneducated opinions on financial topics.

[jamestaylorrecordsas]

That's fine

Hang a shingle in Caymans

[Anonymous User]

Who is this james taylor guy? Is he even a lawyer? Very odd posts.

[jamestaylorrecordsas]

People also ask "Who is this anonymous guy, is he even a lawyer"

I'm just bringing you the information. We associate Caymans with fraud. Sorry if you find it shocking.

I'm not taking responsibility for people believing that. I'm merely the messenger.

Sammy the Bankman was a few miles from there.

[melgibsonfan]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

To get these roles you have to either (1) have a massive rolodex of clients who need these Cayman Island policies or (2) be from there or the Caribbean generally. Most people do not take to the island lifestyle after an American upbringing, there is a lot less romance and a lot more headache than anticipated. There are also so few white collar jobs on these islands that the few that exist go to those who grew up there with the accompanying golf/alumni/beach club networks.

[Anonymous User]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

I have looked into this. If you are UK/commonwealth qualified, there are a lot of opportunities. When the market is hot like it was in '21, it's quite easy for lawyers from NZ/Australia/Canada/UK to get hired there.

[Anonymous User]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

There's a thread that discussed this in some detail at viewtopic.php?f=23&t=284928&p=10439418& ... #p10439406.

[Anonymous User]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

I have looked into this. If you are UK/commonwealth qualified, there are a lot of opportunities. When the market is hot like it was in '21, it's quite easy for lawyers from NZ/Australia/Canada/UK to get hired there.

I’m a London based US associate who is interested in a similar move (though not Cayman). The main problem I’ve faced is that the average 4th year (say) US associate has two fewer years of experience than the average 4th year UK (or Aus etc.) associate, because of the additional two years lawyers in those other jurisdictions serve as trainees before they qualify. Meanwhile the 4th year US associate is getting paid just as much as the 4th year UK associate, or even more if COLA is a factor. This tilts the balance against US associates even if the location is in principle open to hiring them (us).

Add to that, the tax savings don’t even sound so good for US citizens/green card holders because of US worldwide taxation. Though I believe the $100k foreign income exclusion amount still applies, so there are still some savings.

[Anonymous User]

Has anyone heard of any US associates successfully working in the Cayman Islands?

I'm a mid-level private funds associate and work with Cayman counsel regularly. I understand if I would have to become common-wealth qualified as a technical matter, but more curious if anyone has heard stories of people successfully making a move.

I have looked into this. If you are UK/commonwealth qualified, there are a lot of opportunities. When the market is hot like it was in '21, it's quite easy for lawyers from NZ/Australia/Canada/UK to get hired there.

I’m a London based US associate who is interested in a similar move (though not Cayman). The main problem I’ve faced is that the average 4th year (say) US associate has two fewer years of experience than the average 4th year UK (or Aus etc.) associate, because of the additional two years lawyers in those other jurisdictions serve as trainees before they qualify. Meanwhile the 4th year US associate is getting paid just as much as the 4th year UK associate, or even more if COLA is a factor. This tilts the balance against US associates even if the location is in principle open to hiring them (us).

Add to that, the tax savings don’t even sound so good for US citizens/green card holders because of US worldwide taxation. Though I believe the $100k foreign income exclusion amount still applies, so there are still some savings.

It's been a few years since I moved back to the US from the UK, but broadly agree with the above. I do have a colleague who relocated to the Caribbean to do this line of work and 1) it sounds pretty repetitive and boring in terms of a legal practice, 2) does not give you a transferable skillset if you want to leave in the future, and 3) his house got damaged in a hurricane, which is definitely a lifestyle consideration. He seems happy, though, if you want that island life.