London, UK (PRWEB) February 6, 2008
AccountancyJobsAbroad.com, the innovative recruitment agency specialising in job placements for qualified accountants, reported today that it is rapidly developing its client base in the Cayman Islands.
The Cayman Islands have always fought stiff competition from other offshore destinations such as Bermuda, particularly in the captive insurance industry where Bermuda is the largest captive domicile in the world. However, in recent times, Cayman has increasingly become the domicile of choice for businesses looking to utilise offshore options to improve their profitability.
Speaking today, AccountancyJobsAbroad.com Director Mike Williams explains further, "We have seen a significant uptick in the number of jobs that Cayman is having to source from abroad due to the increase in business relocating to this destination. A high proportion of these jobs naturally fall within the financial sector, particularly in the field of investment funds where Cayman is carving out a strong niche for itself."
Further to this, Cayman has also benefited from the tighter restrictions that Bermuda is placing on overseas candidates seeking work. As Mr Williams explained, "Bermuda has always been Cayman's largest competitor in terms of snapping up talented foreign workers, especially in the financial sector. In recent times Cayman has increasingly become the first choice location for many of our candidates. This is due in no small part to the new immigration restrictions that Bermuda is proposing to implement. Examples of this include a 'job shadowing' strategy whereby a worker sourced from overseas will carry out their function alongside a trainee Bermudian worker. This is with a view to that worker taking on the position themselves after a stated period of time, likely three years. At this point the overseas worker will have to leave the island."
Whether government policies such as this will ever come to fruition remains to be seen but the possibility alone is causing many candidates to seek similar work in Cayman where there are no such policies planned at the current time.
When asked if this posed a problem to AccountancyJobsAbroad.com, Mr. Williams was upbeat about the situation, "Our business model has always sought to be innovative and adaptable. We have no control over government legislation or any other external factors which might affect the job market in these locations. What we do have is the capability to adapt our business rapidly to focus on the high growth areas." Williams continued, "At AccountancyJobsAbroad.com, we relish overcoming issues such as this as we consider our business to have competitive advantage over the more traditional recruitment agencies in these type of situations."