Published
Sep 4, 2023
Updates:
Sep 17, 2024
Cayman Islands
Price:
Delivery:
Legal forms:
Payment methods:
3 weeks
LLC, LLP, IBC, PCC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Cayman Islands
$
4700
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Registrar
Abbreviation
Phone
General Registry of the Cayman Islands
General Registry
+1 345-946-7922
Location
Capital
Official languages
Population
Currency
ISO 4217
George Town
Cayman Islands
English
69,310
KYD
Cayman Islands Dollar
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in ayman Islands
Here are some frequently asked questions about company formation in the Cayman Islands:
Q: What is the legal structure of a company in the Cayman Islands?
A: The legal structure of a company in the Cayman Islands is similar to that of a company in most other jurisdictions. A company can be incorporated as a limited liability company, an exempted company, or a non-resident company.
Q: What is the process for incorporating a company in the Cayman Islands?
A: The process for incorporating a company in the Cayman Islands involves the submission of certain documents to the Cayman Islands Registrar of Companies, including the Memorandum and Articles of Association, along with other supporting documents.
Q: What are the requirements for directors and shareholders of a company in the Cayman Islands?
A: A company in the Cayman Islands must have at least one director and one shareholder. There are no restrictions on the nationality or residency of directors or shareholders, and corporate directors and shareholders are permitted.
Q: Is it necessary to have a physical office in the Cayman Islands to incorporate a company?
A: Yes, a company incorporated in the Cayman Islands must have a registered office and a registered agent located in the Cayman Islands. This requirement can be met by engaging the services of a professional service provider.
Q: What are the ongoing compliance requirements for a company in the Cayman Islands?
A: A company in the Cayman Islands must file an annual return with the Registrar of Companies, maintain accurate financial records, and hold annual general meetings of shareholders. In addition, certain types of companies may be required to comply with additional regulations.
Q: What are the tax implications of incorporating a company in the Cayman Islands?
A: The Cayman Islands has no corporate income tax, no capital gains tax, and no withholding tax on dividends or interest. However, companies may be subject to taxation in other jurisdictions based on the location of their operations or the residency of their shareholders.
Q: How long does it take to incorporate a company in the Cayman Islands?
A: The time required to incorporate a company in the Cayman Islands depends on various factors, including the complexity of the company's structure and the availability of required documents. However, it typically takes between 1-2 weeks to complete the process.
The Cayman Islands have a strong and stable economy, with a GDP of $3.2 billion in 2019. This is a significant increase from the $2.7 billion GDP in 2018. The Cayman Islands have a low unemployment rate of 3.2%, and the average household income is $77,000. The Cayman Islands have a strong tourism industry, with over 2 million visitors in 2019. The tourism industry contributes over $1.2 billion to the economy, making it the largest contributor to the GDP. The Cayman Islands also have a thriving financial services sector, which contributes over $1.5 billion to the economy. The Cayman Islands have a strong banking sector, with over 200 banks and trust companies. The Cayman Islands also have a strong real estate market, with an average home price of $1.2 million. The Cayman Islands have a strong and stable economy, and are a great place to invest and do business.
The Cayman Islands is a tax-neutral jurisdiction, which means there is no income tax, capital gains tax, or inheritance tax. This means that both individuals and corporations are not subject to direct taxation on their income in the Cayman Islands. However, there are other taxes and fees that are levied by the government.
Corporate Taxes:
There is no corporate income tax in the Cayman Islands, however, there are certain fees that companies are required to pay, such as annual registration fees, annual fees for registered office and directors, and stamp duty on certain documents.
Personal Taxes:
There is no personal income tax in the Cayman Islands. As a result, there is no requirement for individuals to file personal tax returns in the Cayman Islands.
Process and Calendar for payments:
As there are no personal or corporate income taxes in the Cayman Islands, there are no tax filing deadlines or payment due dates. However, companies are required to pay annual registration fees and other fees to the government, which are typically due on or before January 15th each year. Failure to pay these fees can result in penalties and may result in the company being struck off the register.
In summary, the Cayman Islands is a tax-neutral jurisdiction, meaning that there are no direct taxes on personal or corporate income. However, companies are required to pay certain fees to the government, and failure to pay these fees can result in penalties. There are no tax filing deadlines or payment due dates for personal or corporate income taxes in the Cayman Islands.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
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