The Cayman Islands is locate in the western Caribbean Sea, colonized from Jamaica by the British.The Cayman Islands are an overseas territory of the United Kingdom. With no direct taxation, the islands are a thriving offshore financial center. More than 99,000 active companies were registered in the Cayman Islands as of 2014, including almost 300 banks, 800 insurers, and 10,900 mutual funds. Therefore, there are many reasons why Cayman is a great place to have a business.
2. Advantages of Cayman companies
There are many reasons why Cayman is a great place to have a business.
- If you incorporate a Cayman company, you can carry out business outside Cayman all over the world.
- The government protect the privacy of enterprise, the information of directors are extraordinary confidential;
- There is no limit for the business scope and no foreign exchange restriction;
- Foundation or financial organization can be registered in Cayman.
3. Flexible Cayman company’s name
We are free to make a choice of companies’ names. There is little restriction for the industry involved. The company name can be the same as the Hong Kong Company.
4. Registered capital
The registered capital can be increased or decreased according to your need and the stamp tax is not required. The standard registered capital is one million USD and no registered capital limit. You don’t have to pay up your capital at the time the company is formatted.
5. Directors & shareholder
For more than one directors and shareholders is required when establish a Cayman company.
The directors and shareholders can be the same one person. The shareholder can be also acted by the natural person or the legal person. If the shareholder is acted by the natural person, the person must be more than 18 years old who has the passport or ID. Before incorporation, you must confirm the list of shareholder, director, chairman of the director and the proportion of their shares.
6. Legal secretary & Registered address
The government stipulates that every company should have a legal secretary who can be acted by the natural person or the legal person without the limit of nationality. The registered address must be the Cayman address. The legal secretary and registered address can be provided if needed.
7. Free business scope
The company registered in Cayman belongs to the offshore company, there is no limitation for its operation abroad.
8. Document required for set up a Cayman Company
The following documents are required to incorporate a Cayman company:
- Company name;
- Information and identity certificate of director &shareholder (duplicate copy of passport or ID);
- Proportion of the shares.
9. Easy procedures
Fill in the application form→ pay the earnest →transact in the government→ finish within 10-15 working days→ All the director sign the legal document in person. (new company registration need 10-15 working days which buy the shelf company only need 3 working days)
10. Our professional service
We are able to prepare all the application forms and relevant documents and take care of all the procedures for you, and you can get the following services.
- Certificate of incorporation;
- Memorandum and articles of association of the company;
- Common seal and atomic seal;
- Share book.
11. Service fee & payment terms
For the foundation and other financial organization, the fee depends on the detailed information.
12. Assistance in bank account opening
A company can open the bank account in HONGKONG. All the directors must go to bank to sign the documents in person. Our company can provide the whole set of opening bank service including: recommend the bank/ prepare for the opening bank document (such as certified true copies, good standing and certificate of incumbency)/meeting minutes/application form/ arrange the introducer/ accompany to open the bank account.
13. Low maintained fee
Because it is an offshore company which do not carry out actual operation, the tax return is not required. The renewal of license should be carried before November 30th every year.
If you have further queries, please contact Tannet Group.