Offshore

Cayman Islands, British Virgin Islands and Bermuda

Having proven themselves as successful international financial centres, it comes as no surprise that the Cayman Islands, the British Virgin Islands and Bermuda have established, and are rapidly developing, their own legal markets. Between them, these financial centres are home to dozens of commercial firms employing from just a handful of lawyers up to nearly 100 in the larger organisations.

As with many former Commonwealth jurisdictions, the legal systems of these offshore territories closely follow that of the UK, making for a relatively smooth transition. Similarly, most firms recognise the relevance of experience gained in other common law jurisdictions (such as Australia, New Zealand and Canada) and frequently recruit candidates from these countries, too.

Undoubtedly, the biggest attractions of relocation to one of these island paradises are year-round sunshine, miles of pristine beaches and the promise of a much better quality of life.

Equally appealing, however, from a career perspective, are the genuine opportunities to broaden your experience, particularly within the areas of finance, corporate and commercial litigation. Lawyers generally tend to work on a number of mid-sized projects rather than working on a single, huge transaction for weeks or months on end.

As with the London market, remuneration can vary depending on location, practice area, or size of firm, but the largest practices will offer full New York rates with significant tax advantages (such as 0% income tax in the Cayman Islands) and lawyers invariably enjoy an excellent standard of living. Most commercial firms will also offer a comprehensive benefits package comparable to that of a City firm.

To discuss opportunities, or for more general advice about moving to the Cayman Islands, please contact Pandora Howles at the London office of Hughes-Castell.