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The Cayman Islands are comprised of three islands covering an area of 100 sq. miles - Grand Cayman, Little Cayman and Cayman Brac. The three flat islands are peaks of a range of submarine mountains. The natural coral reefs and surrounding deep waters offer some of the best scuba diving in the world.
The Cayman Islands are located 150 miles south of Cuba and approximately 500 miles from Florida. George Town, the capital, is located on Grand Cayman.
Tourism accounts for 70 percent of GDP. It's pristine and uniquely beautiful marine environment and tropical climate attract nearly one million visitors to the islands annually.
Prior to the 1960s Cayman was often referred to as "the islands time forgot" and the economy of the country was limited to fishing and income earned by Caymanian seamen working in North and Central America. Significant foresight, effective planning and the enactment of the necessary legislative framework by the Government in the late 1960s positioned Cayman for phenomenal growth in financial services.
The islands' political stability, the absence of direct taxation and foreign exchange controls, complemented by a well-established legislative and strict confidentiality laws, have established the Cayman Islands as one of the premier financial centres, ranking fifth in the world.
The bank commenced operations in the Cayman Islands in 1964 with the opening of a branch in George Town.
Today RBC Financial Group provides a full range of financial services to domestic and international clients through three entities:
RBC Royal Bank of Canada - Provides commercial and consumer lending and deposit services to domestic and international clients through two retail units, the main branch in downtown George Town and a second branch on the world famous Seven Mile Beach.
Royal Bank of Canada Trust Company (Cayman) Limited - Provides Global Private Banking, trust and company management services in all major currencies to international clients.
RBC Dominion Securities Inc. - Is a personal, private, professional full-services investment dealer.
RBC Royal Bank of Canada has two branches and RoyalTouch® Automated Banking Machines in the Cayman Islands, as well as Royal Bank of Canada Trust Company (Cayman) Limited, and RBC Dominion Securities Inc.
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