Cayman Islands  

General Information:
The Cayman Islands consist of a group of three Islands, situated approximately 500 miles South of Miami, Florida in the Caribbean Sea.The Cayman Islands are a British Colony with the United Kingdom passing legislation. The islands are a flourishing financial offshore centre and have a strong economy enjoying full employment.

Currency:
The Caymanian Dollar

Language:
The official language is English.

Characteristics of the Cayman Islands Exempt Company

Type of Company:
Exempt

Taxation:
There is no taxation on any income, profits, dividends, investments or capital gains.

Annual Franchise Tax:
$575 for share capital under $ 50,000
$805 for share capital over $50,000 up to $1m
$1690 for share capital over $1m up to $2m
$2400 for share capital over $2m

Directors:
Corporation or physical person of any nationality may act as directors. Minimum of one (1) director.

Shareholders:
Minimum one (1).

Registered Agent/Office:
A registered office must be maintained within the Cayman Islands and there must be a Cayman resident appointed as an agent.

Annual Reporting:
There is no requirement to file accounts but an annual return in the form of a simple declaration must be submitted.

Confidentiality:
The details of the shareholders and directors are not required to be kept on public record. There is also a Preservation Law, which makes it a criminal offence to disclose or try and obtain any information on a Cayman Company.

Double Tax Treaty Network:
The Cayman Islands are not party to any Double Taxation Agreements.

Trading Restriction:
Companies cannot trade or own real estate in the Cayman Islands. Trading cannot be associated with banking, insurance or mutual funds, unless licensed.

Name:
Must end the following words or abbreviations: Limited, Corporation, Incorporated, societe Anonyme or Sociedad Anonima the following works and their associated activities cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, municipal and Royal.

Disclosure of Beneficial Owner:
No

Tax on Offshore Profits:
No

Bearer shares allowed:
No

Corporate Directors Permitted:
Yes

Company Secretary Required:
No

Standard Authorised Share Capital:
US$ 50,000

Local Registered Agent:
Yes

Local Directors:
No

Disclosure of Directors:
No

Disclosure of Shareholders:
No

Annual Return:
Yes

Submit Accounts:
No