Tax haven.

Good place for spotting special purpose vehicles and extra-marital infidelity.

Makes great rum cake.

Not so good for spotting crocodiles:

“There are two types of crocodiles naturally found in the north-western Caribbean, namely the American and Cuban crocodile. The American crocodile (Crocodylus acutus) has a wide range and can be found in Cuba, Jamaica, Mexico and the Southern States. The Cuban crocodile (Crocodylus rhombifer) is only found in south-western Cuba. However, skeletal remains found locally indicate that historically both species were naturally present in the Cayman Islands. Many crocodiles have a “wandering” phase, in which young animals range far and wide in search of new habitat. The Cayman Islands falls within the natural range of both these species, therefore we should not be surprised at an occasional appearance off our shores.”
Cayman Islands Department of Environment Director Gina Ebanks-Petrie.

See also