(since 18 May 2005)
cabinet: Executive Council (three members appointed by the governor,
four members elected by the Legislative Assembly)
elections: none; the monarch is hereditary; the governor is
appointed by the monarch; following legislative elections, the
leader of the majority party or coalition is appointed by the
governor Leader of Government Business

Legislative branch:
unicameral Legislative Assembly (18 seats, 3 appointed members from
the Executive Council and 15 elected by popular vote; members serve
four-year terms)
elections: last held 11 May 2005 (next to be held in 2009)
election results: percent of vote by party - NA; seats by party -
PPM 9, UDP 5, independent 1

Judicial branch:
Summary Court; Grand Court; Cayman Islands Court of Appeal

Political parties and leaders:
no national teams (loose groupings of political organizations) were
formed for the 2000 elections; United Democratic Party or UDP
[leader McKeeva BUSH]; People's Progressive Movement or PPM [leader
Kurt TIBBETTS]

Political pressure groups and leaders:
NA

International organization participation:
Caricom (associate), CDB, Interpol (subbureau), IOC, UNESCO
(associate), UPU

Diplomatic representation in the US:
none (overseas territory of the UK)

Diplomatic representation from the US:
none (overseas territory of the UK)

Flag description:
blue, with the flag of the UK in the upper hoist-side quadrant and
the Caymanian coat of arms centered on the outer half of the flag;
the coat of arms includes a pineapple and turtle above a shield with
three stars (representing the three islands) and a scroll at the
bottom bearing the motto HE HATH FOUNDED IT UPON THE SEAS

Economy Cayman Islands

Economy - overview:
With no direct taxation, the islands are a thriving offshore
financial center. More than 68,000 companies were registered in the
Cayman Islands as of 2003, including almost 500 banks, 800 insurers,
and 5000 mutual funds. A stock exchange was opened in 1997. Tourism
is also a mainstay, accounting for about 70% of GDP and 75% of
foreign currency earnings. The tourist industry is aimed at the
luxury market and caters mainly to visitors from North America.
Total tourist arrivals exceeded 2.1 million in 2003, with about half
from the US. About 90% of the islands' food and consumer goods must
be imported. The Caymanians enjoy one of the highest out