The formation of a Cayman Islands Company is a tax efficient solution forinternational entrepreneurs.
Some of the many benefits of incorporating a companyin the Cayman Islands are listed below:
- All documents and legislation are in the official language of English.
- There are no annual reporting, accounting or auditing requirements for an Offshore Cayman Islands Company.
- Only one shareholder and one Director isrequired. These can be the same person or a corporate body and do not need to include a local.
- There is a complete lack of direct taxation; no corporation, property, capital gains or withholding taxes. This legislationis backed by a 20-year government guarantee (rising to 30 years on application) enabling long term business planning.
- There is no minimum capital requirement for aCayman Island Company formation.
- The business does not need to be run from the Cayman Islands. It can be run from anywhere in the world.
- Corporate bank accounts.
The procedure for the formation of a Cayman Islands Offshore Company is fast and efficient. The general process is as follows:
For an individual, the following documents are required:
- A completed application form with details ofpreferred name and beneficial directors and shareholders (nationality, countryof residence, address, profession etc.).
- A scanned and notarised copy of the passportsof the Beneficial Directors and shareholders are required.
- A photocopy of another official document (suchas Driving License, ID Card etc.) notarised to confirm the copy is a true copyand the photo holds a true likeness.
- An original proof of residence showing the name and address of the individual. This can be in the form of a utility bil lor bank statement and must not be older than 3 months.
- Two original letters of introduction. This can be from a bank, Lawyer, Accountant or similar profession.
For a Company, the following documents are required:
- A certified copy of the Certificate ofRegistration.
- A certified copy of the Company’s Memorandum and Articles of Association.
- A certified copy of the Registered Shareholders with details of shares held by each.
- A certified copy of Register of Directors.
- A certified copy of the Register of Offices.
- For at least 2 Directors, the documents setout in ‘Individual’ section above.
- At this point Eltoma, will issue an invoice for a Cayman Islands Company Formation. Upon receipt of payment we can start the incorporation process.
- The Memorandum and Articles of Association will be sent to the Registrar of Companies along with a sworn statement that the company will conduct business activities outside of the island. The Memorandum of Association will include: the company name, the company’s registered office address, the company’s function and objectives, the company’s share capital and an explanation of liability.
- Once the Memorandum of Association has been accepted, The Registrar of Companies will issue the company a Certificate of Incorporation.
Detailed Service Price List- Cayman Islands Company Incorporation
Consultation regarding company structure and general registration in Cayman Islands
Registration of a company in Cayman Islands
Obtaining of company in Cayman Islands registration certificate
Provision of a legal address (for a period of 1 year)
Register of the company’s directors and shareholders preparation in accordance with the requirements of Cayman Islands
Obtaining of a share certificate for a company in Cayman Islands
Registered agent, i.e. a person representing the company and interacting with government agencies in Cayman Islands
Obtaining of a company seal and registering it in accordance with the laws of Cayman Islands
Affixed apostille certifying the authorised bodies of the Cayman Islands
Appointment of a Nominee Director (for a period of 1 year)
Appointment of a Nominee Shareholder (for a period of 1 year)
Bank account opening for a company in Cayman Islands
Shelf company in Cayman Islands
If you have any questions regarding incorporation in the Cayman Islands, please contact our specialists: firstname.lastname@example.org
* The Service fees placed on the website are intended for general information purposes only and may differ from the final quotation
**Some of the information stated may no longer reflect the most current legal developments