Overview of Cayman Islands Company Formation
It is of importance to note that the offshore zone in the Cayman Islands, does not restrict companies in terms of the authorized capital, although it is initially proposed to form it in the amount of total $50 000 USD. At least one person, an individual, is required to register a company. The witnessing by the nominee shareholder or director shall be allowed, either.
So-called Exempt Companies arrange procedures at the territory of jurisdiction; they may engage in their own activities at zero tax rate outside the country. I’m not
The companies shall be entitled to issue bearer shares and choose the name of the company in any language of choice. The only condition is to choose the name that avoid, indirectly or directly, some reference to the government of the state. When the information is communicated to the registry, the name is translated into English.
Benefits of Cayman Islands Company Formation
Currently, Cayman Islands company formation provides tangible benefits, which explain the great popularity of the jurisdiction:
Exemption from audit and reporting;
Governmental support, flexible legislation;
Modern system of providing legal and banking services;
Privacy and disclosure of information entails liability with possible imprisonment of up to 2 years;
Cayman company formation at affordable price, prolongation, services of nominee shareholders and director;
A variety of types of shares (for example, privileged, nominal, bearer);
Zero taxation when performing activities outside the country.
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Throughout the Cayman Islands, certain regulations have been in force for a long time that currently prohibit to perform in the field of insurance, banking and finance without any licenses required. Also you can’t take loans from resident, engage in trading in the Cayman Islands and purchase the real estate (lease is allowed only).
Today, quite many businessmen know how to easily purchase an offshore company in the Cayman Islands. If you dare to trust this matter to be handled and managed by experts of the Private Financial Services, you shall not be required to take a long and distant business trip that takes a lot of time and money.
Our company delivers services to competently solve all the issues related to opening of offshore in the remote mode. To note, a company may be opened remotely and assets are contributed annually to prolong the company activity within the territory of the country. We shall arrange all paper collection, we shall act as the registrar and the registration agent. As binding procedures are completed, our employees shall dispatch a package of documents to confirm registration by courier service to any country in the world. This service is reliable and convenient for our client at all times.
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FAQ (Frequently Asked Questions)
1. How long does it take to register a company in the Cayman Islands?
Processing time: You can select 2-time frames depending on the urgency of your request. For normal cases, a company can be formed in about 4 working days, while urgent cases can be processed and completed in 2 working days only. The process duration counts after the receipt of full payment and all required documents.
2. What is the most common type of company in the Cayman Islands?
The most common form of company in the Cayman Islands is the Exempted Company.
3. Can a foreigner be the owner and director of a Cayman Islands company?
There are no restrictions on the residency or nationality of directors. In addition, directors may be natural persons or legal entities. There is no requirement for a minimum authorized capital. Every company must appoint a local registered agent and have a local registered office address.
4. What are the requirements to establish a company in the Cayman Islands?
To incorporate in the Cayman Islands, you need a minimum of one shareholder. This can be a person or another company or a trust. At least one director is required for incorporation in the Cayman Islands. Resident directors and secretaries are not required for incorporation.
5. What is the minimum share capital of a Cayman Islands company?
For a company in the Cayman Islands, there is no requirement for a minimum amount of investment or minimum share capital, but at least one share must be in issue permanently.
6. What are the annual costs for maintaining a company in the Cayman Islands?
Incorporation costs in Year 1 start from EUR 3000 and annual company costs in Year 2 and thereafter start from EUR 2500.
7. How can I get more information?
Private Financial Services provides a full range of corporate services in the Cayman Islands, including company registrations, bank accounts, license assistance, cryptocurrency and fintech projects, the gambling industry, and much more.
The Private Financial Services team will be happy to discuss matters in more detail.