Cayman Islands - British Overseas Territories in the West Indies in the Caribbean Sea. The structure of ownership includes the islands of Grand Cayman, Little Cayman and Cayman Brac. Area - 259 km ². Population - 40 thousand people. (2005) - white, Creole, negros, mulattos. More than 4 / 5 of the population live on Grand Cayman. Administrative center - the city of Georgetown. Languages: English 95%, Spanish 3.2%, other 1.8%. Monetary unit - CI $. Cayman Islands - a thriving offshore financial center. It registered more than 68 thousand companies, including almost 500 banks, 800 insurance companies, 5 thousand mutual funds. In 1997 the Stock Exchange was opened.
Characteristics of not taxable companies registered in the jurisdiction of the Cayman Islands
Corporate Law
Company Law in the Cayman Islands. This legislation is based on the English Companies Act (1948), and basically, as amended, consistent with the Companies Law of Cayman Islands in 1960.
Company Type
Exempt from the payment of company tax
Capital
The authorized capital stock of the company - $ 50.000
Stocks
It is with nominal or no par value, bearer shares, preference shares, redeemable shares with or without voting rights.
Requirements for companies
- Minimum number of directors - 1
- Minimum number of shareholders - 1
- Shareholder (s) and director (s) may be an individual or a legal person.
Taxes
The company is not taxed on any kind of profit, income, dividends, investments and capital gains
The annual tax on the exclusive rights and privileges
The company pays tax at a rate:
- $ 575, if the company registered capital of less than $ 50,000
- $ 805, if the authorized capital of the company from $ 50,000 to $ 1,000,000
- $ 1690, if the authorized capital of the company from $ 1,000,000 to $ 2,000,000
- $ 2400, if the company registered capital exceeds $ 2,000,000
Annual reporting
There is no need to provide financial statements, but must provide annually a simplified income-tax return
Privacy
Information about the directors and shareholders is not recorded in the state filing cabinet. There is a special Protection Act, under which disclosure of information or attempt to disclose information about a company registered in the Cayman Islands, is a criminal offense and punishable by law.
Information about the beneficial owners is not disclosed
Convention for the Avoidance of Double Taxation
The Cayman Islands did not sign the conventions on avoidance of double taxation
Restrictions on trading operations and activities of the company
Companies registered in the territory of Cayman Islands, can not sell, or hold property in the territory of the jurisdiction. Without a license, companies can not engage in the business of banking, all types of insurance and mutual funds
Income tax for offshore companies
There is no form of taxation in the Cayman Islands relating to individuals, companies or trusts. No taxes on income, capital gains, deductions from profits, dividends, investments or remittances.
Providing accountability
There is no requirement to file financial accounts. However, the annual report must be submitted, and it is a simple declaration.
Limitations of companies:
- Exempt companies are not allowed to trade within the Cayman Islands and own real estate
- Company has no right to engage in the business of banking, insurance or mutual funding, without obtaining a special license;
- The company can not borrow from the population.
Company name
Company name must end with the words (or acronym): Limited, Corporation, Incorporated, Societe Anonime and Sociedad Anonima. The following words or abbreviations can not be used in the name of the company: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal and Royal.
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Exempt Company Standard order |
Exempt Company with Nominee Services |
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EUR 3,050.00 |
EUR 3,850.00 |
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Standard order The documents/services which are provided to the client are:
Price - EUR 3,050.00 includes:
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Standard order with Nominee Services: The documents/services which are provided to the client are:
Price - EUR 3,850.00 includes:
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Ready-made (shelf) companies
We have specially registered some companies for your convenience if you require the company immediately or if you require company with older incorporation date. You can sign the bank account opening forms as soon as you have purchased the shelf company which lets you to receive the account number and IBAN number straight away.
All these companies have not traded or entered into any dealings or obligations whatsoever. Since their incorporation, their documents have been kept motionless on the shelf in our office.
Please note that due to the fact that these are "shelf" companies they are without Apostille and most probably, you will need it so it will take 1-2 business days to arrange for it. And if you are a new customer it will take some time to fill out all the necessary forms due to our companies "know your customer" policy.
The Price for the shelf company varies depending on the incorporation date of the company.
For more detailed information about company formation in Cayman Islands or "shelf" companies please contact us and our experts will be glad to help you in any question you may have. Our telephone number is + 357 22 680602 and e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..
