Cayman Islands Company Formation
Benefits of a Cayman Islands International Company Formation
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Excellent Reputation of the British Overseas Territory (BOT)
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Fast and Easy Incorporation Process
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No Tax Business Environment
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Strong Privacy Provisions for Exempted Company
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Primary Offshore Business Centre.
from £3,695.00
Why Set Up a Cayman Islands Company?
The Cayman Islands should be considered as one of the primary jurisdictions for offshore company formation. It has a long-standing reputation as the leading offshore jurisdiction.
Best jurisdiction for funds
A Cayman Islands offshore company is well known as the best solution for funds, especially in the US. However, it is also suitable for all other types of common offshore activities. Protective offshore trust legislation allows the benefits of exemplary fiduciary services to be combined with the flexibility of corporate law. In addition, the no-tax environment combined with British Overseas Territory status makes offshore incorporations in Cayman particularly attractive.
Developed offshore financial centre
There are numerous high-quality fiduciary service providers, accountants, law firms, banks and insurance companies. Of the fifty largest banks, forty have branches in the Cayman Islands. The Cayman Islands registry is very efficient and professional, which also promotes the jurisdiction. As a result, Cayman Islands incorporation usually only takes one to two working days. Glenmuir Trust will gladly assist you with the process of company registration by providing efficient and prompt services.
The high degree of privacy
A Cayman Exempted Company offers a high degree of privacy. The register of directors and shareholders is closed for public inspection. The same applies to the register of beneficial owners, which should be filed in the centralised register kept by the Cayman company registry. These registers are only accessible to the designated public authorities of the Cayman Islands and the United Kingdom and are not available to the public.
Tax neutral environment
Same as in the BVI, there are no taxes in the Cayman Islands. The jurisdiction simply does not have any taxes on corporations including capital gains taxes or withholding taxes.
Glenmuir Trust can quickly and cost-effectively incorporate a Cayman company and open an account. Other services such as a local director and nominee shareholders are also available. We have extensive experience in offshore incorporations of Cayman limited companies.
Taxation of Cayman Islands Company
The Cayman Islands is a tax haven where no taxes are levied on corporations and individuals. The only applicable tax on the islands is a stamp duty, which is usually only a nominal amount for most documents.
There are also various import duties for goods imported to the islands, but this does not have any impact on the offshore financial and hedge fund industries.
Ultimate Tax Haven
A Cayman Islands company is basically tax-free on worldwide profits or any capital gains. Any transactions involving shares and payment of dividends are not subject to tax in the Cayman Islands. In addition, there is no corporate income tax, withholding tax or capital gains tax. Instead, Cayman companies pay a fixed government fee that is a part of the annual fees levied by service providers.
Individuals residing in the Cayman Islands can also benefit from tax-free status. There is no personal income tax, estate or inheritance taxes, or any tax on gifts.
No Tax Returns
Cayman taxation system can work to the advantage of those who are doing business in the Cayman Islands, or who have chosen to arrange an estate planning or asset protection structure in the islands. Since there is no corporation tax, a Cayman Islands exempted company is not obliged to file tax returns.
No value-added tax is applicable to a Cayman Islands offshore company.
Corporate Legislation in the Cayman Islands
The Cayman Islands legal system is based on English common law and equity principles. The Legislative Assembly adopts all laws, and judicial decisions in the Cayman Islands embody a substantial part of local case law. English law is not directly applicable in the Caymanian courts. However, English case law has significant influence and can be referred to in the courts.
Cayman Islands corporate law consists of two main legal documents: Companies Law (2018) and Limited Liability Companies Law (2016). The Foundation Companies Law (2017) is an addition to the main corporate legislation, which establishes a separate type of company, the Cayman Foundation Company.
Variation of legal structures
In total, it is possible to incorporate four different types of companies in the Cayman Islands company registry. More broadly, Cayman Islands legislation allows for the incorporation of up to eleven variations of these companies, including segregated portfolio companies, not-for-profit associations, limited-duration companies, etc. Such variations make setting up a company in the Cayman Islands a perfect choice for tailoring an offshore company to very specific needs.
The Company Registration in Cayman Islands Package Includes the Following Company Documents:
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Certificate of Incorporation issued by the Cayman Islands Registrar of Companies
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Memorandum of Association stamped by the Cayman Islands Registrar of Companies
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Articles of Association stamped by Cayman Islands Registrar of Companies
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Resolution of appointment of first directors
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Register of directors
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Register of shareholders
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Minutes of first meeting of directors
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Share Certificate for each shareholder
** Payment Plan Also Available For New Incorporations
