THE MAIN CHARACTERISTICS OF CAYMAN ISLANDS COMPANY

General

Type of entity Exempt
Type of law Common
Shelf company availability Yes
Our time to establish a new company 2 days
Corporate Taxation 0%
Double taxation treaty access Yes, not numerous

Share Capital or Equivalent

Standard currency KYD
Permitted currencies Any
Minimum paid up KYD 1
Usual authorized KYD 50,000

Directors

Minimum number One
Local required No
Publicly accessible records No
Location of meetings Anywhere

Shareholders

Minimum number One
Publicly accessible records No
Location of meetings Anywhere

Company Secretary

Required/Local or qualified No/No

Accounts

Requirement to prepare Yes
Audit requirements No
Requirement to file accounts No
Publicly accessible accounts No

Recurring Government Costs

Minimum Annual Tax/Licence Fee Varies
Annual Return Filing Fee Varies

Other

Requirement to file annual return Yes
Change in domicile permitted Yes
Requirement to file accounts No

Presentation of jurisdiction

The Cayman Islands are composed by three islands in the Caribbean. The main island, Grand Cayman, is located about 1150 km south of Florida. The Cayman Islands became a British possession in 1972, with its Governor appointed by the Queen of England to direct the island government a part of British Territory. It has been since operating as offshore centre. The dynamic economy of Cayman Islands’ specializes in financial services and tourism. The islands have direct air links with major cities all over the world. The experience and financial structures of the Cayman Islands’ have made it top global offshore centre. Still the question that many our clients put us: “Is this beneficial for me?” or, in other words:

Who should choose Cayman Islands Company and which activities benefit the most?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers.

Which activities?

  • International trade;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF CAYMAN ISLANDS

Advantages of a company in Cayman Islands:

  • No corporate tax – 0%.
  • Well-developed banking and legal infrastructures.
  • Well known centre for Hedge Funds.
  • No publicly accessible records for Directors and Shareholders.
  • Speedy incorporation time.

Disadvantages of a company in Cayman Islands:

  • Considered as an expensive jurisdiction.

How to proceed

To incorporate or purchase a company the following documentation should be provided:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.