|
Why the Cayman Islands?
Stable political democratic system British based legal system No personal or corporate taxes imposed by CI government on companies No requirement to file accounts No exchange control regulations Confidentiality laws formulated to maintain privacy of beneficial owner No nationality restrictions on directors or shareholders Corporate shareholders and directors are acceptable English language Excellent professional and banking services available |
Who can incorporate in the Cayman Islands?
There are no nationality restrictions imposed on the directors or shareholders of a Cayman company. In addition, corporate shareholders and directors are acceptable. To incorporate a Cayman Islands company, contact us or download an application form here. There are three types of companies which may be registered in the Cayman
Islands: 1. Exempt Exempt companies propose to carry on business mainly external to the Cayman Islands. Features include: No public record of shareholders and are not known to the registrar of companies No requirement for meetings to be held in the Cayman Islands No requirement to include “Limited” or “Ltd” in the name of the company No annual reporting requirements other than a statement by the secretary or director that the operations of the company have been external to the Cayman Islands No restrictions on the alteration of the company’s memorandum and articles of associaiton Can obtain a guarantee from the government against the future imposition of taxes for 20 years Can own a British registered ship notwithstanding that the beneficial owner of the company is not British 2. Ordinary Ordinary companies can be designated as resident and used for local purposes within the Cayman Islands, or non-resident for use externally. Features include: Required to maintain a register of members open to public inspection which provides the names and addresses of its shareholders. Nominee shareholders can be appointed to maintain the privacy of the beneficial owner, if required. Company name must include the word “Limited” or “Ltd” An annual return must be filed each year giving details of the authorized and issued share capital and its shareholders An annual general meeting of shareholders must be held including the year of incorporation although need not be held in the Cayman Islands Can own a British registered ship notwithstanding that the beneficial owner of the company is not British 3. Foreign companies Foreign companies (incorporated outside of the Cayman Islands) may be registered pursuant to the provisions of Part IX of the Companies Law in order to commence carrying on business in the Cayman Islands. For an application to register a foreign company, please click on the button. |
What will be disclosed?
Each of the above types of company must file a list of directors and officers with the registrar of companies in the Cayman Islands. The registrar must be updated of any changes to the directors and officers although this information is kept confidential by the registrar, as are the details of the shareholders of ordinary companies. The only information which the registrar will provide to the public is as follows: 1 the type of company 2 address of registered office 3 date of registration In addition, strict confidentiality obligations are imposed on service providers in the Cayman Islands, punishable by heavy fines and/or imprisonment, in order to protect the identity of beneficial owners. What fees will be payable? A fee will be payable for setting up the company which will include the cost of incorporation by the service provider and the relevant government fee. These will depend on the type of company required and the purpose of the company. Separately, there will be a fee for the appointment of nominee directors, if required. In addition, an annual government fee and registered office fee will be charged. |