-->Establish companies

CAYMAN ISLANDS

Location

The Cayman Islands consists of a group of three islands in the Caribbean lying approximately 480 miles south of Miami, Florida.

Confidentiality

The details of the beneficial owners are not required to be disclosed.

Exchange Control

There are no exchange control regulations of any type in the Cayman Islands.

Company Formation

Shelf companies are available. It takes about a week to incorporate an exempt company. Following are some basic requirements for Cayman Islands Exempt companies:

Name

Any name that has already been incorporated, or a name that is so similar as to cause confusion is not permitted.

Share Capital / Shareholders

The common authorised capital is US$50,000 divided into 50,000 common voting shares of US$1. The minimum authorised and issued capital is one share of no par value or one share of par value. Bearer shares are permitted.

The minimum number of shareholder is one. Register of shareholders need not be filed with the government authorities.

Directors / Secretary

The minimum number of director is one. The director may be a natural person or a corporation and need not be resident in the Cayman Islands. It is a statutory requirement to maintain a Register of directors and officers at the registered office in the Cayman Islands.

A company secretary may be appointed. The company secretary may be a natural person or a corporation and need not reside in the Cayman Islands.

Registered Office / Agent

The companies must have a registered office and a Registered Agent in the Cayman Islands.

Taxation and Annual Requirements

There is no form of taxation in the Cayman Islands relating to individuals, corporations or trusts and no requirement to file accounts for exempt companies.

Exempt company must pay an annual license fee of :

  • US$575 for authorised capital up to US$50,000;

  • US$805 for authorised capital more than US$50,000 but not exceeding US$1 million;

  • US$1,690 for authorised capital more than US$1 million but not exceeding US$2 million;

  • US$2,400 for authorised capital exceeding US$2 million