Cayman Islands
Geographic location:
Caribbean
Population:
30,000
Native Language:
English
Currency:
Cayman Islands Dollar
Political Status:
British Crown Colony
Legal System:
British Common Law
CAYMAN ISLANDS
COMPANY FORMATION
First Year
Incorporation cost USD 3,200*
Second Year
Maintenance cost USD 1,500
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OFFSHORE COMPANY - CAYMAN ISLANDS
The Cayman Islands consist of a group of three islands located in the Caribbean between Cuba and Central America. They are one of the largest offshore banking centres in the world with over 600 banks. The Islands are politically stable and have an established commercial infrastructure. There are no exchange controls enabling funds to be moved freely into and out of the Cayman Islands.
• No tax on income
• Asset Protection vehicle
• Low Annual Company Maintenance Cost
• Financial Privacy
• No Accounting Reports to file
Exempt Company
The Exempt Company can obtain a guarantee of tax-free status for a period of twenty years. There is no requirement for accounts to be filed or audited and there are minimal reporting requirements for this corporate vehicle. Bearer Shares may be issued but these shares must be held by a Custodian approved by the Cayman Islands Monetary Authority. Registered shares can be in the name of an individual or a body corporate. By virtue of the Confidential Relationship (Preservation) Law it is a criminal offence to disclose confidential information or to wilfully obtain or attempt to obtain confidential information in relation to all types of Cayman Companies.
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