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

Type of Company Exempt
Type of Law Common
Shelf company availability Yes
Time to establish a new company 2-3 days
Corporate Taxation Nil
Double Taxation Treaty Access No
Share capital or equivalent
Standard currency US$
Permitted currencies Any
Minimum paid up US$1
Usual authorised US$50,000
Minimum number One
Local required No
Publicly accessible records No
Location of meetings Anywhere
Minimum number One
Publicly accessible records No
Location of meetings Anywhere
Company Secretary
Required No
Local or qualified No
Requirements to prepare Yes
Audit requirements No
Requirements to file accounts No
Publicly accessible accounts No
Recurring Government Costs
Minimum Annual Tax / Licence Fee US$854
Annual Return Filing Fee US$250
Requirement to file annual return Yes
Change in domicile permitted Yes

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