Cayman Enterprise City Celebrates #6 Global Ranking as Free Zone Leader

Cayman Enterprise City: A Global Leader in Free Zones

Cayman Enterprise City (CEC) has made headlines by claiming the sixth spot in the prestigious Top Ten Global Free Zones ranking as determined by the Financial Times' fDi Intelligence. This commendable recognition positions CEC as the only Caribbean free zone to break into this elite list, underscoring its vital role as an innovative hub for knowledge-based industries.

As the accolades keep rolling in, CEC also garnered the title of Knowledge Zone of the Year in the Americas, and was recognized as the Global Runner-Up in the same category. These honors reaffirm CEC’s commitment to fostering an environment ripe for innovation and entrepreneurship, qualities that are quintessential to the Cayman Islands' economic landscape.

"CEC's recognition on the global stage is compelling evidence of its success in providing a strong platform for world-class tech businesses and innovation, one that uniquely reflects Cayman's pioneering qualities and entrepreneurial spirit," remarked Hon. André Ebanks, Premier of the Cayman Islands. He emphasized how CEC is contributing to job creation, business opportunities, and professional training for the local youth—a promising future for Caymanians.

The fDi Awards are known for their rigorous evaluation process, assessed by a panel of industry experts. This year’s awards highlight free zones that have excelled in creating value for their regions. According to the fDi Intelligence announcement, "The global runner-up in the world's best knowledge zones is Cayman Enterprise City."

Founded in 2011, CEC has transformed from a budding idea into a bustling innovation hub complete with fast-track licensing processes and a robust infrastructure tailored for service companies. The award panel praised CEC not just for its setup but also for its holistic approach that includes flexible working environments, mentorship programs, internships, and marketing support facilitated through its non-profit arm, Cayman Enterprise.

The socio-economic impact of CEC has been profound. To date, it has generated over $1.07 billion in local economic activity, housing more than 450 special economic zone companies. Furthermore, the initiative has facilitated over 4,200 professional development opportunities through 200+ events annually via Enterprise Cayman, further enhancing the skill set of the Caymanian workforce.

“The past 14 years have seen us build what we believe is a globally unique innovation ecosystem,” stated CEC's CEO, Charlie Kirkconnell. He elaborated on the integration of business licensing services with community engagement and workforce development, ultimately supporting entrepreneurs at every growth stage.

Recognition from fDi Intelligence underscores the high quality of CEC’s offerings, which now stands among the world’s top solutions for knowledge and technology businesses. This reflects both the strength of its growing ecosystem and its capacity to positively reshape the future economic landscape of the Cayman Islands.

In the face of a rapidly evolving global market, CEC provides an unparalleled platform uniquely positioned to help companies adapt and thrive. With tax neutrality guaranteed until 2061, accelerated business and work visa processes, and a supportive community environment, CEC emerges as a strategic choice for businesses seeking growth and stability.

Cayman Enterprise City is home to three specialized zones: Cayman Tech City, Cayman Commodities Derivatives Centre, and Cayman Maritime Aviation City—each designed to attract knowledge-based businesses to establish a presence in the Cayman Islands under favorable conditions.

The partnership between Cayman Enterprise City and the non-profit Enterprise Cayman continues to empower local residents, providing them with access to essential resources and opportunities to engage and thrive in their business ventures. By focusing on the future, CEC is not only creating prosperity for the present but also laying the groundwork for an innovative and sustainable economy that embraces diversity and inclusion.

For more insights and updates, visit Cayman Enterprise City.