Cayman Islands vs Delaware (USA): which jurisdiction wins?

Cayman Islands vs Delaware (USA) — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Cayman Islands	Delaware (USA)
Tax headline	0% corporate, capital gains, and income tax	21% federal + 8.7% Delaware (no state tax on non-DE income)
Formation days	5	1
First-year cost	$4,200	$1,200
Treaties	Limited	70+
Substance	Economic Substance Law applies to relevant activities	US tax presence considerations
Banking	Top-tier prime brokerage and crypto-friendly banking via Cayman National & private banks	Mercury, Brex, plus tier-1 US banks

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