Taking Sterling to Cayman
#1
Just Joined
Thread Starter
Joined: May 2014
Posts: 10
Taking Sterling to Cayman
Is there any limit to taking Sterling to Cayman, just considering all the start up costs and deposits.
#2
BE Forum Addict
Joined: Oct 2007
Location: Charlotte,NC
Posts: 1,717
Re: Taking Sterling to Cayman
I don't believe there is a limit, are you opening up a sterling account with a bank and wiring the funds?
#3
BE Forum Addict
Joined: May 2012
Location: Cayman Islands
Posts: 4,995
Re: Taking Sterling to Cayman
Orange is right: there's no limit. Beyond a certain amount you might be asked to explain how you got the money, that's all.
Oh, and one thing you need to bear in mind: inactive bank accounts become subject to confiscation after 12 months, these days. In theory you can always get it back, but it's prudent to put in or take out a few quid every six months, just in case!
Oh, and one thing you need to bear in mind: inactive bank accounts become subject to confiscation after 12 months, these days. In theory you can always get it back, but it's prudent to put in or take out a few quid every six months, just in case!
#4
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Joined: May 2010
Location: Caribbean/Upper West Side/Camden Yd
Posts: 372
Re: Taking Sterling to Cayman
As others have said, no limits. However, unless you are talking millions, the banks will have you fill a declaration form or tell. First check if your current bank has a retail banking branch in the island.