This overseas territory of the UK was named Las Tortugas by Christopher Columbus after the sea turtles found there in abundance. Its current name is believed to have been given by Sir Francis Drake, after a Carib term for crocodile. Identify this place where more than 70,000 companies are registered.

The Cayman Islands were indeed named 'Las Tortugas' (The Turtles) by Christopher Columbus in 1503 after the abundant sea turtles. The current name 'Cayman' is believed to derive from 'Caymanas,' a Carib term for crocodile, given by Sir Francis Drake. The territory is a major financial center with over 70,000 registered companies. The Maldives and Madagascar are independent nations, not UK territories, and 'Hiong Kong' appears to be a typo for Hong Kong.