The Cayman Islands are a British Overseas Territory situated in the Caribbean Sea approximately 500 miles south of Miami, Florida. The Islands enjoy sophisticated legal, accounting and banking services and derive political stability by virtue of their connection with Britain. The legal system is British and the government is headed by a Governor appointed by the Crown who presides over a Government made up of twelve locally elected members and three senior civil servants who hold ex-officio office.
There is no exchange control and no restriction on the movement of funds to or from the Islands.
The Cayman Islands have no double taxation treaties with any other part of the world but have undertaken to assist foreign governments by giving them information where a Cayman Island Company has been used or involved in activities which are mutually considered as criminal.
THE CAYMAN ISLANDS EXEMPTED COMPANY
A Cayman Island exempted company has the following characteristics:
10. Cayman Islands Exempted Company Renewal:
Renewal of Cayman Islands Exempted Company, to be paid in December every year. This is a requirement by Company Registry. Failure to do so results in penalties and could result in the striking-off of the company from the Company Registry.
Latest valid passport copy and recent utility bill for address proof of shareholder/director are required to be submitted at every renewal as a part of enhanced due diligence. If shareholder is a corporate entity, then latest certificate of incumbency and above stated docs of directors would be required.
11. Documents Required in Setting Up a Cayman Islands Exempted Company:
KYC Documents for individual Director/Shareholder:
KYC for Corporate Director/Shareholder:
All documents of the corporate entity must be certified by a Lawyer or Certified Public Accountant
Incorporation of Cayman Islands Exempted Company begins from USD 5,340/-
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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.