The Caribbean Sea houses many islands which have shown great value to the world through history, for its notorious sugar cane fields worked by slaves, as a port between Africa and the U.S., and within the sea itself it houses 9% of the world’s coral reefs.
On this day May 10th, in 1503, Columbus names the Cayman Islands, Las Tortugas. The Cayman Islands are located between Jamaica and Cuba, and it is considered a British Territory. Columbus noticed the many sea turtles swimming in the water and for this reason named it Las Tortugas. After he encountered so many places, coming up with creative titles must have seemed pointless; hence, Las Tortugas.
The Cayman Islands has more registered business than people, and surely none of them are shell companies. This Island has the highest standard of living in the Carribeans, it is ranked as 14th gor highest GDP per capita (gross domestic product). It is also famous for having no income or property tax, the government acquires its entire revenue from sales taxes and import and export taxes. Its beautiful beaches and scuba diving draws in oodles of tourists, as well as it being one of the largest financial centers in the world.