- provides plausible deniability for unpopular or suspicious measures at both ends
- keeps open the option of direct subsidies and favourable treatment for Cayman. I believe most BOTs are not financially self-sufficient, including Caymans.
- keeps open the option of UK re-taking direct control in some circumstances (military requirements, oil discoveries etc).
- maintains substantial independence in practice.
For small territories, BOT arrangements provide the best of both worlds, at the low low price of occasionally bowing to UK authorities.
- keeps open the option of direct subsidies and favourable treatment for Cayman. I believe most BOTs are not financially self-sufficient, including Caymans.
- keeps open the option of UK re-taking direct control in some circumstances (military requirements, oil discoveries etc).
- maintains substantial independence in practice.
For small territories, BOT arrangements provide the best of both worlds, at the low low price of occasionally bowing to UK authorities.