About the Cayman Islands
The Cayman Islands are made up of three islands: Grand Cayman, Brac and Little Cayman. They are located in the Caribbean Sea south of Cuba and northwest of Jamaica. The total landmass is about 1.5 times that of Washington, DC. The British colonized the islands from Jamaica, and the islands are still (at their choosing) an overseas territory of Great Britain. Due to the lack of taxation, the Caymans have turned into a booming financial centre. That and a tourist industry that is geared toward luxury travelers have allowed residents to enjoy a lifestyle similar to residents of Switzerland. The official language is English.
Studying Business in the Cayman Islands
Although the region is small, it is possible to study business in the Cayman Islands at a few universities. Some offer academic classes at a campus, while others are online based or offer a combination of the two methods of study. Degrees offered range from associate’s to bachelor’s to master’s degrees. In some cases, there is a partnership built with an international business school, allowing you to sit for their examinations upon completion of your degree.
The length of time it will take to complete your program in the Cayman Islands will depend on which one you choose. Associate’s degree programs are typically two years, bachelor’s are four and master’s are an additional two years. Part-time study may also be possible.
The typical academic year (without summer program) is August through May. Some universities favor a semester-based academic schedule, which may or may not include a summer course. Others prefer an academic calendar based on the quarter system.
The cost of your education will depend on which degree you choose. Some cost consideration may be given to local students. Per year tuition for a bachelor’s degree, for example, can range from around $5400 US to $11000 US per year, depending on the number of units taken. This is not including any additional fees such as admissions and examination fees, nor does it include books, supplies, room or board.
While studying in the Cayman Islands may not represent a significant cost savings over enrolling in your home country depending on where you live, there are other advantages. In particular, anyone interested in business as it relates to international finance might benefit greatly from being in the midst of this global exchange. Studying here could lead to making excellent future business contacts and potentially to internships in businesses located here. Another plus is the great climate and the ability to spend daily time at the beach if so inclined.