Business View Caribbean | March 2020

23 BUSINESS VIEW CARIBBEAN MARCH 2020 design concept, style, and layout all came from us, internally.” While the architecture element is outsourced, all marketing materials, sales of the units, setting up of contracts, and procurement is done through the Edgewater office in George Town, Grand Cayman. For large construction sites, a satellite office is put onsite for the team to manage the project, but other than that, Edgewater operates as a small family business. Kris notes, “My son and daughter-in-law work with my wife and I and a handful of other employees that have been with us quite a while. Two of my key people have been here well over 10 years; my head project manager Dick Wilhelm, has been with us since 2004 and our quantity surveyor, Milton Buchanan joined me about 12 years ago. Coming from the general contracting world, in the early days, we used to self-perform on all the contracts. Now we self-perform the first portion of the work and we sub-contract a lot of the other elements.” Edgewater Development maintains EDGEWATER DEVELOPMENT LTD . SMALL FIRM, BIG KNOWLEDGE: MEET BODDENS, THE CAYMAN ISLANDS PROPERTY LAW AND IMMIGRATION EXPERTS In the mid 1990s, several Cayman Islands-based legal firms expanded operations to other offshore jurisdictions such as British Virgin Islands and Hong Kong. The movement continued over the next two decades, but local firm Boddens saw an opportunity in avoiding the trend, making it their mission to become the top experts on all aspects of Cayman Islands law, business and commerce. Today, Boddens has achieved that goal thanks to an unfaltering focus on “keeping it local” and on cultivating client relationships, offering personal guidance in the firm’s core practice areas—which include real estate transactions, air and sea vessel registration, corporate administration, business licensing, immigration services, investment residency and more. Despite being a one-stop shop for legal and corporate administration services, Boddens has seen an increased demand in Cayman Islands “independent means permanent residency”, which is achieved either through a qualified business investment or by purchasing developed real estate upwards of US$2.4 million. “It’s an enticing option,” says Boddens Managing Partner Dale Crowley. “As a British Overseas Territory with a stable government, a booming economy, and no restriction on foreign ownership of real estate, becoming a permanent resident of the Cayman Islands is extremely attractive and our team is poised to help navigate that process effortlessly.” Other benefits of Cayman residency include exemption from direct taxation (there are no capital gains, corporate, inheritance, personal income or property taxes in the Cayman Islands); access to first-rate healthcare and education; a high quality of life and more. ...... For more information about establishing a business or obtaining residency in the Cayman Islands, email hello@boddens.ky Boddens Managing Partner Dale Crowley leads a discussion with his team