RSS feeds‘When city life gets too much, most of us like to escape to a tropical paradise, soak up some sun, maybe partake in a few water sports and watch the sun go down with a nice glass of wine - generally just escape the pressures of city living. What if you could indulge in this kind of lifestyle all year round? For some accountants, this is a fantasy they’ve been able to turn into a reality.
Sometimes it doesn’t seem like the most glamorous of careers, but accountancy offers fantastic opportunities for working abroad. Francis Kanijo, who works in the Cayman Islands’ branch of PricewaterhouseCoopers, has been living and working there for 16 months and loves it so much she plans to stay for another three or four years.
‘The quality of life here is phenomenal, I live only three minutes from work and have a house on the beach. The best thing about working here is you get much more of a work-life balance than you would in the UK,’ she says.
The Cayman Islands consists of three islands nestled in the western Caribbean: Little Cayman, Caymand Brac and Grand Cayman. The islands are south of Miami and Cuba and North West of Jamaica. The capital, George Town, is in the largest island, Grand Cayman, which is roughly four miles by 27 miles and has a population of 50,000 (20,000 of those being expats). The islands achieved independence from Britain in 1962 and are now a fully self-governing member of the Commonwealth, but professionals in Cayman still work under a UK framework and legal system.
It’s not hard to see the attraction of working on the Cayman, in terms of lifestyle and career prospects. Cayman has no direct tax and this means it has become more popular for corporate and personal investors. It is now the fifth largest financial centre in the world, behind London, Tokyo, New York and Frankfurt, which means the islands offer plenty of opportunities for accountants to work in the banking and insurance sectors, while enjoying the tax benefits on their salaries too.
For Francis, there is no end to the positives. ‘Living costs are fairly similar to London, in terms of accommodation and food, but you find you don’t spend as much money buying clothes or gadgets. That doesn’t mean there isn’t lots to do, it’s a very outdoors-based culture, with lots of opportunities to play sports and go scuba diving, and lots of places to go out in the evenings. You can travel to Cuba and Jamaica easily from here too.’
John Frazer, business manager at Think Global Recruitment, explains that employer requirements don’t differ that much from the UK. ‘In order to process your work permit, the employer has to show that your skills are not available locally and at the moment there is a huge demand for fully qualified accountants.’ And working in the Cayman can offer opportunities that might not be available at home. ‘In the Cayman, you’ll be trained in financial services.
The firms out there want you to specialise in banking and assurance, because that’s where the bulk of the work is, you might not get that chance in the UK. Plus the Cayman firms are likely to get you heading up your own projects early on, whereas in the UK you might be one in a team of ten,’ he says.
For Francis the office culture doesn’t vary too much from working for an accountancy firm at home. ‘Everyone is quite young and there are about 130 of us all together. My hours are pretty similar too, 8.30 to 5.30. The differences start when you knock off work. It’s like being on holiday all the time.’
If all of this sounds appealing, opportunities to work in the Cayman Islands are readily available. Many firms offer secondment opportunities, or you can apply for a full-time position directly. Frazer recommends contacting a recruitment consultant, sitting down with them and having a long chat about the kind of work experience and lifestyle you’re after. As Francis explains: ‘If you like being outdoors, enjoy sports, going out and want to further your career, then the Cayman Islands are perfect for you.’
The opportunity to progress in your profession, while in the surroundings of a tropical paradise is rare, but it seems to be working for a great deal of young accountants in the Cayman Islands. So what are you waiting for? Hop on a plane, it’s only a 10-hour direct flight away.
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