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Cayman Islands Offshore Company

About Cayman Islands

The Cayman Islands consists of a group of three islands in the Caribbean: Little Cayman, Cayman Brac and Grand Cayman. The main Island, Grand Cayman, is situated approximately 480 miles southeast of Miami. The Cayman Islands are British dependent territories and hold the title of 5th largest offshore financial center in the world, boasting 279 banks and leading financial institutions, international accountancy practices (PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG all have an established presence in the Caymans) and leading offshore-law law firms.

Due to its strong links with the UK, the Cayman Islands are very politically stable, socially protected and safe. The infrastructure on the Caymans is excellent with cutting edge communication facilities and a well-established, reliable transportation system.

Benefits of Setting up an Offshore Business in the Caymans

  • All documents and legislation are in English, the official language
  • No yearly reporting, accounting or auditing requirements for any Offshore Cayman Islands Company
  • Only one shareholder and one director is required. They can be the same person or a corporate body
  • There is no direct taxation; no corporation, property, capital gains or withholding taxes. This legislation is backed by a 20 year government guarantee (rising to 30 years on application) enabling long term business planning
  • No minimum capital prerequisite for a Cayman Island Company formation
  • Businesses may be run from anywhere in the world
  • Corporate bank accounts available

Key Corporate Features

General
Type of CompanyExempt
Type of LawCommon
Shelf company availabilityYes
Time to establish a new company2-3 days
Corporate TaxationNil
Double Taxation Treaty AccessNo
Share capital or equivalent
Standard currencyUS$
Permitted currenciesAny
Minimum paid upUS$1
Usual authorisedUS$50,000
Directors
Minimum numberOne
Local requiredNo
Publicly accessible recordsNo
Location of meetingsAnywhere
Shareholders
Minimum numberOne
Publicly accessible recordsNo
Location of meetingsAnywhere
Company Secretary
RequiredNo
Local or qualifiedNo
Accounts
Requirements to prepareYes
Audit requirementsNo
Requirements to file accountsNo
Publicly accessible accountsNo
Recurring Government Costs
Minimum Annual Tax / Licence FeeUS$854
Annual Return Filing FeeUS$250
Other
Requirement to file annual returnYes
Change in domicile permittedYes

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