CAYMAN ISLANDS The Cayman Islands are south west of Cuba and east of Central America. They consist of three islands, Grand Cayman, Cayman Brac, and Little Cayman. They are some of the best islands in the world for diving. Owned by Britain, the Caymans have a rich history and a culture all to their own. With an abundance of sea life, endless palm tree beaches, and seriously good shopping, this trio of islands is much more than somewhere to do your offshore banking.