The Cayman Islands is a self-governing British Overseas Territory in the western Caribbean, the most populous of Britain's overseas territories. As a British dependency, King Charles III is head of state (represented locally by a Governor), while domestic affairs are run by a locally elected government led by the Premier, with the UK retaining responsibility for defence and foreign affairs. Located south of Cuba and between Jamaica and the YucatΓ‘n, the territory's main durable issues center on its constitutional relationship with the UK, periodic debates over greater autonomy, and ongoing international scrutiny of its status as a low-tax offshore financial center.