Special Economic Zones (Cayman Enterprise City) Order, 2024 (SL 14 of 2024)

Summary

This Order, made under the Special Economic Zones Act (2023 Revision), formally declares the Signal House property (Block 21B, Parcel 134) as part of the Cayman Enterprise City special economic zone and confirms Cayman Enterprise City Limited as the zone's developer. Schedule 2 sets out the categories of business that may operate as special economic zone enterprises within named 'parks'.

• ICT park
• Science and technology park
• Media park
• Commodities and derivatives park
• Outsourcing park
• Academic park
• Maritime/aviation services park

The Order is primarily a zoning/designation instrument rather than a prudential rulebook, but it contains provisions relevant to CIMA-licensed entities.

• Restriction on CIMA-licensed activities: Entities holding CIMA licences are restricted from obtaining a trade certificate to carry out their CIMA-licensed activities within the zone.
• Permitted alternative operations: CIMA-licensed entities may operate a genuinely separate zone-qualifying business in the zone, or establish a branch of their main licensed business in the zone to service zone occupants and the public.
• Future approvals required: Any future commodities/derivatives electronic marketplace and any academic institution licensing in the zone are conditioned on further regulatory or governmental approval.

This is an in-force statutory order (SL 14 of 2024) rather than guidance, and it applies to the developer, special economic zone enterprises operating within the named business parks, and CIMA-licensed entities that may wish to establish a presence in the zone.

Key obligations

• CIMA-licensed entities may not obtain a trade certificate to carry out in the zone the same activities for which they hold a CIMA licence.
• A CIMA-licensed entity wishing to operate a zone-qualifying business type in the zone must be able to establish that it is operating solely as that business type.
• CIMA-licensed entities are permitted to establish only a branch of their main business in the zone to service zone businesses and the public.
• No entity may be licensed to operate an electronic marketplace for commodities and derivatives in the Cayman Commodities and Derivatives Park until CIMA has approved a suitable regulatory framework and necessary legislation is in force.
• Licensing and operation of businesses in the Cayman International Academic Park may not occur until written agreement is provided by the Government.
• Businesses in the Cayman Maritime and Aviation Services Park may not directly transact with the Maritime Authority of the Cayman Islands (for Cayman-flagged vessels) or the Cayman Islands Airports Authority (for the listed aviation operations).

Applies to

special economic zone enterprises, developer (Cayman Enterprise City Limited), entities holding licences from the Cayman Islands Monetary Authority (CIMA), businesses in Cayman Internet Park, Science and Technology Park, Media Park, Commodities and Derivatives Park, Outsource Park, International Academic Park, and Maritime and Aviation Services Park

Related documents

• This document commences Special Economic Zones Act (2023 Revision)
• This document is made under Special Economic Zones Act (2023 Revision)