Advantages of Incorporating in the Cayman Islands
- Exemption from all local taxes and stamp duty
- Maximum confidentiality and anonymity
- Ease of operation, maintenance and control
- Asset security
- No disclosure or minimum capital requirements
- The minimum number of shareholders is one
- The minimum number of directors is one
- Corporate directors and shareholders are permitted
- Excellent and flexible post-incorporation follow-up services
- No statutory requirement to hold annual general meetings
Principal Corporate Legislation
The Companies Laws 2007 as amended.
Language of Legislation and Corporate Documents
The official and spoken language is English.
Currency
Cayman Islands Dollar (KYD).
Type of Law
Common.
Type of Company | Exempt Company. |
Share Capital | Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1. |
Classes of Share Available | Registered shares of no par value, preference shares, redeemable shares and shares with or without voting rights. |
Bearer Shares | Not permitted. |
Restrictions on Trading | Cannot trade within the Cayman Islands. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted. |
Registered Office Required | Yes, must be maintained in the Cayman Islands. |
Directors | The minimum number of directors is one. Director can be of any nationality and need not be resident in the Cayman Islands. Corporate directors are permitted. |
Shareholders | The minimum number of shareholders is one. |
Publicly Accessible Records | No. |
Nominee Shareholders and Nominee Directors | Allowed. |
Location of Meetings of Directors and Shareholders | Anywhere. |
Disclosure of Beneficial Ownership to Authorities | No. |
Personal Presence Required | No. |
Taxation | Nil. |
Double Taxation Treaty Access | None. |
Requirements to File Accounts | None. |
Requirement to File Annual Return | None. |
Audit Requirements | None. |
Restricted Words | Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification. |
Name of a Company | The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name of every company. |
Time to Incorporate | Two days. |