The Cayman Islands is a self-governing British Overseas Territory which situated in the Western Caribbean Sea approximately 500 miles south of Miami, Florida, with a population of approximately 50,000 people of mixed origin. It comprises three islands of Grand Cayman, Cayman Brac and Little Cayman. Cayman Islands have wonderful corporate laws which can be seen in the fact that there are over 36,000 companies registered there. The economy in Cayman Islands is based on the tourism sector and the international financial centre. The territory is politically, socially and economically very stable.