CML provides full-circle employment and HR services with professional Accounting/Financial Services Recruitment, Legal Recruitment, IT Recruitment, and Executive Search in offshore jurisdictions worldwide as well as outsourced HR Consulting Services and Immigration Services for the Cayman Islands market.

Built on a perfect mix of experience, expertise and professionalism. At its founding in 2004, CML set out to become a different kind of recruitment firm: one run by professionals, for professionals. Since then, CML has grown to become the trusted recruitment, HR consulting, and immigration services partner to many of the Cayman Islands’ best known professional, legal, and IT firms. Our mission is to help clients build great teams and to help candidates build great careers.

Recruitment

CML is owned and staffed by professionally qualified accountants, financial services professionals, legal professionals, and HR professionals with many years of experience living and working in the Cayman Islands, giving our team a unique understanding of your experience like nobody else.

HR Consulting

Our team is professionally qualified with vast experience working with a range of Cayman’s leading professional firms and even the government. We have expertise in a range of HR areas and have consulted on everything from introducing new payroll systems to advising on updates to the local labour laws.

Immigration Services

Our team has over 20 years of experience reviewing Cayman Immigration Law and have developed a strong working relationship with the Cayman Islands Department of Workforce Opportunities and Residency Cayman (WORC) over the course of many years of successful work on behalf of our clients. We have a good understanding of what it takes to navigate this complex process smoothly.

Frequent changes and refinements within the Cayman Islands Immigration Laws and Regulations means there are always new twists and turns popping up in the process, and we ensure we are ahead of the curve when these changes come in so that we can help you understand what is needed to ensure the smoothest experience. Our team are here to manage the entire process, reducing the stress for you so you can focus on what matters.

It depends on your qualifications, experience, target role(s), and location(s). Assuming you meet the minimum professional standards for your discipline and have relevant experience transferrable to the offshore market, it can take anywhere from one week to three months or longer to obtain an offer. The more flexible you are concerning the role, salary expectations, and location, the more likely we will be to find you a good opportunity within a relatively short period.

Once registered, your resume will be reviewed by a CML Recruitment Consultant. Our consultants are experienced, knowledgeable, and can generally assess the prospects for your employment in offshore services very quickly. If the consultant believes that we can help you, they will call or email to schedule a telephone call and/or request some further information. This is an opportunity for us to get to know you and find out more about your requirements and expectations and address any concerns we may have about your expectations or circumstances.

Our consultant will be able to give you an accurate and frank estimate of your earning potential, a range of options, and an indication of the likely timeline based on our experience with similar candidates. Once we have a clear picture of your background and preferences, we can initiate an action plan to approach potential employers on your behalf. We will arrange interviews in liaison with our clients’ Human Resource departments.

We are specialists in recruiting legal and financial services professionals for the “offshore financial centres” (sometimes referred to as OFC’s).

Although there is no precise definition of the term, the IMF has identified the following factors which have become widely accepted characteristics of an offshore financial centre:

• A relatively large number of financial institutions engaged primarily in business with non-residents;
• Financial systems with external assets and liabilities which are [substantially] out of proportion with the domestic economy;
• Low corporate taxation rates;
• Light or moderate financial regulation;
• Some degree of banking secrecy and anonymity (although this has been substantially eroded in recent years)

It so happens that most OFC’s also share certain lifestyle advantages which make them attractive places to live and work:

• Low personal tax rates
• Tropical or sub-tropical climates
• A generally high standard of living often including:
• Short commutes
• Low pollution
• Low crime
• Modern telecommunications
• Excellent local amenities

The following countries are generally held to be the mainstays of the offshore financial sector:

• The Cayman Islands
• Bermuda
• The British Virgin Islands
• Guernsey
• Jersey
• Isle of Man

In recent years, several traditional financial centres have enacted legislation preferential to offshore businesses, enabling them to compete more effectively for certain financial services traditionally provided offshore (most notably related to captive insurance, mutual and hedge funds). As a result of this, and to facilitate access to new global markets, many offshore law firms have set up practices as offshore law specialists in these centres.

Such jurisdictions are increasingly considered to be “offshores” themselves. These include:

• Singapore
• Hong Kong
• Dublin
• Toronto

There are three main benefits in working in the offshore financial sector:

Financial

A combination of generally high gross salaries and generally low-income taxes invariably means substantially higher take-home pay.

Quality of Life

Many offshore jurisdictions are thriving financial centres by day and idyllic tropical islands by night. Bermuda and the Caribbean offer warm climates with low annual rainfall, short commutes, low crime, virtually no pollution, and excellent amenities.

Career Prospects

The offshore market has experienced unparalleled growth in the last decade, with no end in sight. Accordingly, the demand for qualified professionals has never been greater. Thousands of professionals have moved to offshore jurisdictions to advance their careers and expand their skillsets. Offshore jurisdictions are home to many of the major international financial services companies. By working in an offshore jurisdiction, professionals can develop a career in international finance while enjoying an excellent work/life balance.

This is a fallacy perpetuated by Hollywood fiction which the offshore centres have worked hard to dispel. The truth is that increased scrutiny from international bodies, such as the Organisation for Economic Cooperation and Development (OECD), has resulted in a string of measures designed to extinguish the potential for criminal abuse of offshore financial systems. The result is a compliance environment that is considerably more onerous than most onshore financial centres.

You’ll experience this firsthand when you try to open a bank account and are asked to provide an unusually long list of due diligence documentation. A prime example of this fallacy is frequent Hollywood references to “numbered bank accounts in the Cayman Islands”, which were outlawed many years ago.

No. Although we started as a recruitment consultancy for professionals seeking to service offshore jurisdictions, we have established excellent relationships with many of the world’s leading financial services firms. As our reputation for professionalism and outstanding service has grown, so it has spread to other offices within our client network around the globe.

Although the offshore jurisdictions and professional disciplines remain our primary focus, we can also assist professionals who are currently based offshore to find excellent opportunities in major onshore financial centres, such as New York, Toronto, London, Dublin, and Hong Kong.

Not necessarily, but your options may be somewhat restricted depending on your marital status, earning potential, target location, and spouse’s occupation. It is critical that you make our consultants fully aware of your circumstances from the outset to enable them to advise you appropriately on the potential implications for your cost of living and immigration requirements. If your spouse/partner plans to work, you should provide their resume to your consultant as early as possible in the process.

The bottom line is that a partner’s employment rarely causes an insurmountable problem for couples that are determined to relocate and who are willing to be patient, persistent, and flexible in their search.

The cost of living is generally no higher than you would find in any big financial centre like London or New York. Rent is always the main expense, but bear in mind that you may get a beachfront condo with a sea view and a swimming pool for the same price as the average one-bedroom apartment in London! Most offshore centres also have low tax rates, so it is vital to compare net salaries rather than gross, which you may be tempted to do from force of habit. It is very important to research and prepare your own detailed budget, especially if you are relocating with a spouse or dependents.

See our offshore life & career guides to some of the key jurisdictions we recruit for below:

• Cayman
• Bermuda
• The British Virgin Islands
• The Channel Islands

This varies from client to client. The minimum you can expect is your flight, two weeks car/scooter rental, and two weeks accommodation. This is usually enough time for you to make permanent arrangements for transport and accommodation. Our consultants are happy to help and advise you if required.

At the other end of the spectrum, some companies will offer flights for all your dependents as well as a relocation allowance, which may be on a cash or reimbursement basis. Moving allowances are often included; however, most rental accommodation is fully furnished and equipped. It is therefore inadvisable to bring anything that cannot easily be transported with you as luggage. There is no reason to bring vehicles, household appliances, or furniture. It is not necessary to use a relocation allowance just because you have it. Relocation packages are usually a matter of company policy and are rarely negotiable except for senior management roles.

See our offshore life & career guides to some of the key jurisdictions we recruit for below:

• Cayman
• Bermuda
• The British Virgin Islands
• The Channel Islands

Each location and firm will have its own ideas about how staff should dress. This is something that should be confirmed once an offer has been made and accepted. However, if you are relocating to a sub-tropical climate, such as the Caribbean, Hong Kong, or Singapore, it is generally wise to stock up on clothing made from light, natural fabrics (which may not be available all year round at home). For men, short-sleeve shirts, smart shorts and deck shoes will come in handy for outdoor events. Ladies have much more flexibility in office attire, and a good stock of open-toed shoes is normally helpful.

Get an inside look at the people, stories, and ideas that move us. Check out our library of blog articles for helpful industry insights and careers advice.

First step is to register with our team, from there one of our recruitment experts  will review your profile and be in touch about next steps.

Our consultants are experienced, knowledgeable, and can generally assess the prospects for your employment in offshore financial services very quickly. If the consultant believes that we can help you, they will call or email to schedule a telephone call and/or request some further information. This is an opportunity for us to get to know you and find out more about your requirements and expectations, and address any concerns we may have about your expectations or circumstances.