X
GO
CAYMAN ISLAND COMPANY incorporation
Advantages
 
  • 100% Tax Free (trade, capital, intellectual property, copyrights)
  • 100% Capital Movement
  • No public record of shareholders of the company (only directors but not shared to the public)
  • Nominee services are commonly used
  • Simple, easy, worked model
  • No filing, accounting or audit requirements
  • Financial records must be kept, privately anywhere in the world
  • English Language
  • Common Law (case by case)
  • No exchange control of information
 
 
Disadvantages
 
  • Local licensed agent must be used
  • Expensive set up costs, but cheap to maintain
  • It is commonly known and considered a "tax heaven" 
 
 
Characteristics
 
  • Share Capital; minimum USD1 with no maximum share capital requirement (advisable to issue below USD50,000 to pay minimum set up fees). Share classes can be ordinary, preferred, bearer and redeemable
  • There is no public record of the shareholder/s of the Company
  • Directors of the company are filed to the local registrar but are not public information
  • One shareholder and one director are required, corporate or legal of any nationality
  • Tax Free (guarantee certificate can be issued by the government for 20 years from the date of creation)
  • Can not trade in the Cayman Islands nor in the following industries; banking, insurance, trust services and management, collective investment schemes, fund management, trustee services and management
  • Companies Law 1961 (was emended several times since then) and The Companies Law 2007 as amended
 
 
Cayman Island companies are commonly used
 
  • For Intellectual Rights Income -musicians, movie makers, writers, software design companies are receiving their ongoing income in the Cayman Island companies tax free
  • For Asset Protection purposes - the Cayman company is used within multi jurisdiction tax groups including International Trusts and Companies or inheritance safekeeping purposes.
  • Holding purposes (all tax free profits stay or get repatriated to the shareholders
  • Brokerage and Trading Accounts set up for Forex Companies and Investment firms
  • Shielding of Assets; only Cayman courts can rule for assets held by a Cayman Company and in Cayman there is no legislation that allows civil forfeitures. Therefore, it is extremely hard to confiscate assets held by a Cayman company.
 
Set Up pack includes
 
  • Memorandum & Articles of Association
  • Certificate of Incorporation
  • Share Certificates
  • Register of shareholders, directors, registered office, 
  • Government license fee
  • Minutes of the first meeting appointing the directors