We’re often asked about working life for professionals in the Cayman Islands, BVI or Bermuda. Here’s a snapshot summary to get you started…

What sort of professional opportunities are available?

If you are a qualified Chartered Accountant or hold a comparable qualification (such as ACCA/CPA) or are a qualified Lawyer (with 3 years’ PQE and qualified from a common law/British/Commonwealth jurisdiction), you will usually be eligible for a work permit provided an offshore employer wishes to sponsor you.

Similarly, there are openings for Trust professionals who are STEP-qualified, Insolvency professionals and Actuaries.

Our candidate survey shows that 71% of professionals relocate offshore for career development reasons. Sponsored further study is also popular.

Employers range from offshore Magic Circle law firms to the Big Four accounting firms, as well as banks, hedge funds, reinsurers, insurance management companies and boutique corporate recovery and insolvency firms.

Worth highlighting for recently-qualifieds is that you don’t generally need to have financial services sector experience already to be successful as full training is provided. Paid relocation is included as standard with all positions.

What about salary, cost of living and taxes?

Salary will vary with location but will usually compare favourably with onshore employment, particularly if you factor in the zero or low tax environment on many of the Islands (there is no income tax in Bermuda or the Cayman Islands, and it’s only 10% in the British Virgin Islands).

Cost of living is not low on some of the Islands, in particular rent. That said, there are off-setting tax-free benefits. Click here for a ready reckoner salary comparison of how pay in Bermuda or Cayman compares to pay in the UK. We’ve also put together an informal quick budget on what your disposable income might be like.

Whilst most contracts are for an initial two years, many people stay on the Islands for extended periods (3-5+ years is typical) and in that time have a great opportunity to accumulate capital savings to use, for example, on a deposit for property back home.

Is quality of life as good as they say?

Yes: It won’t surprise you to learn that as our candidate testimonials confirm, the Work/Life balance is truly superb!

Famously, many of these Islands are tourist destinations as well as international business centres. This means that you’ll have a great time with outdoor sports/beach activities, a vibrant social life and great opportunities to travel.

That’s probably our 60 seconds up. Hopefully you now have a foretaste of what the possibilities are. Do contact us if you’re considering making the move.

See also: 12 Reasons Why You MUST Use a Recruiter

If you are a lawyer or chartered accountant and interested in working in the Bermuda/Caribbean region, visit our jobs portal to see the latest vacancies. Our site also includes a downloadable All You Need to Know guide which will tell you all you need to know about living and working offshore.