Grand Cayman is one of three islands that make up the Cayman Islands, a British Overseas Territory. Because the Cayman Islands are a British Overseas Territory, the regent of Britain is the head of state for the Cayman Islands, including Grand Cayman.
Cayman Brac and Little Cayman are the two other islands that make up the Cayman Islands. Of the three islands, Grand Cayman has the largest territory and population. Grand Cayman is known for its financial services and banking industries; these flourish due to low taxation rates. Grand Cayman is also a popular tourist destination in the western Caribbean.