Cayman Islands Company RegistrationDownload Information Sheet
The key features of a Cayman Islands Company Registration are:
- A minimum of one Director and one Shareholder is required, which can be the same person
- There is no public disclosure of the Director and Shareholder. The directors details can be obtained by paying a fee.
- The Cayman Islands is recognised as a major international financial centre with leadership in a number of areas
- As the top international banking centre, the world’s leading domicile for offshore hedge funds, the second largest captive insurance centre and a world leader in structured finance, the jurisdiction stands as the only offshore international financial centre to possess such breadth and depth in financial services
- Tax neutrality
- The jurisdiction has no direct personal, corporate or property taxes
- Maintaining integrity
- Private and institutional investors are attracted to the Cayman Islands because of its professional infrastructure, business friendly approach, flexibility, an English common law framework, stability, well-regulated regime and tax neutrality.
- Professional infrastructure
- Business friendly
- The Cayman Islands Government and the private sector have maintained a partnership which has resulted in a climate that is responsive to local and international market needs and provides flexibility while maintaining the financial centre’s integrity
- The Cayman Islands has maintained a very stable economic and political climate throughout its history
The Cayman Islands, a British Overseas Territory, encompasses 3 islands in the western Caribbean Sea.
To request a free consultation about your British Virgin Islands company formation with our experienced team, please call us on +44 (0)1302 729041 or email [email protected]. Alternatively, use the live chat facility on our website.
Why not take a look at our article on offshore company benefits?
What’s included for £2445.00
- Cayman Islands Company Formation
- Cayman Islands Government Registration Fees
- Registered Office for 1 Year
- Registered Agent for 1 Year
- Electronic copy of:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Register of Directors
- Register of Members/Shareholders
- First Board Minute Appointing the Director
The above is included with an Exempt IBC company formation. We can also assist with an LLC company formation if required. Please contact us for more information.
Once we have received all the required identification documents, the company formation process will take approximately 3-4 working days subject to compliance review.
Please Note: Due to the difference in time zones we work on, the replies will not always be immediate from the agent and can impact the response time.
Offshore Bank Account
After your Cayman Islands company formation you may wish to open an Offshore Business Bank Account. CFS International Formations have a close working relationship with Banks in Cayman, the US and Asia, who are willing to open accounts for Cayman entities.
Why Form a Company in the Cayman Islands?
The Cayman Islands is home to many of the world’s top professionals in the areas of law, accountancy, and corporate services and investments expertise. Many of the world’s leading firms in these areas have chosen to set up in the Cayman Islands.
The Cayman Islands is recognised internationally for its efforts to adhere to international regulatory standards and plays a leadership role in the offshore arena on international regulatory issues. The jurisdiction is well known to have in place a regulatory regime which surpasses many of the world’s top international financial centres in the area of anti-money laundering
While achieving its commercial success, the Cayman Islands has maintained a high level of integrity. It is recognised by the FATF as a leader within the Caribbean region in the fight against money laundering and adheres to all of the relevant international supervisory standards
Due to the flexibility of a Cayman Islands Company Formation, it can be incorporated for a number of different reasons and business activities. A Cayman Islands Company Formation has features protecting the owners of the company.
Tax Information for your Cayman Islands Company Registration
A great benefit to a Cayman Islands Company Formation is that there are generally no taxes unless the entity is a ‘financial institute’ such as a fund. If the company fall under the new Economic Substance requirements the entity must register with the local Tax Information Authority. Economic substance requirements is commonly limited to investment managers (who need to register with the Cayman regulator) or headquarters company, i.e. those that hold equity in subsidiaries.
When choosing a name for a Cayman Islands company formation, you must ensure all words are in English. The name must end with a word, phrase or abbreviation such as Limited (LTD).
The company name is displayed on the public record.
Directors, Shareholders and Secretary
For a standard Cayman Islands company formation, a minimum of one director and one shareholder is required. They can be the same person allowing you to have a ‘one person’ company. They do not need to reside in Cayman Islands and can be any nationality. Officers of a Cayman Islands Company can also be corporate bodies.
Please note that if the company has a complex corporate structure, an additional compliance fee may apply.
The standard Share Capital for a Cayman Islands Exempted Company is 50,000 shares with a par value of US$1.00 per share for a total of US$50,000 of authorised share capital. Additional government fees are payable where the capital is in excess of US$50,000. Bearer Shares are not permitted.
Annual Requirements for your Cayman Islands Company Registration
For a Cayman Islands company registration, annual requirements are minimal.
The government fees must be paid annually and are included in the CFS annual renewal fees.
Also included in the renewal fees is the renewal of the Registered Office.
The government does not require accounting and bookkeeping. However, every company must maintain adequate accounting records showing income, expenses, assets, and liabilities. While the records do not have to be kept in the Cayman Islands, they must be available if the government and its tax authorities wish to inspect them.
There are no required accounting standards and no required audits.
Every January each company must file a return with the Registrar declaring any changes to the business. The annual renewal fee must be paid by December 31st for the next year.
Yearly Renewal £2,159.00
On a yearly basis, a Cayman Islands Company must be renewed with the Registered Agent and Authorities in the Cayman Islands. By renewing your company this ensures that it is kept in good standing with the authorities in Cayman Islands there are also accounting and financial statements which need to be filed with the authorities, please contact us for more information.
All Cayman Islands Companies are due for renewal on the 1st of January.
The price for a Cayman Islands yearly renewal is £2,159.00
The following is included in a Cayman Islands yearly renewal:
- Registered Office
- Government Fees
- Economic Substance
Annual Economic Substance filing
As a prerequisite to filing the annual return with the Registrar of Companies in Cayman, we are required
to make an additional filing for all Cayman entities (other than exempt limited partnership and trusts) in
relation to their status under the Economic Substance (‘ES’) legislation.
At its most basic level, all relevant Cayman entities conducting relevant activities, must be able to
demonstrate that they:
- Conduct core incoming generating activities on island
- Are directed and managed from Cayman
- Have adequate physical presence in Cayman
- Have an adequate number of full-time employees or other personnel with appropriate
qualifications in Cayman
- Have an adequate amount of operating expenditure incurred in Cayman.
Relevant entities include all Cayman entities and Cayman registered foreign companies except:
- Investment funds or entities through which investment funds directly or indirectly invest or
- Entities which are tax resident outside the Cayman Islands
- Entities which are authorised to carry on business locally in the Cayman Islands as a domestic
- Cayman exempted limited partnerships and trusts.
Relevant Activities are the businesses of fund management, banking, finance and leasing, distribution and service centre business, headquarters business, intellectual property business, shipping, and holding company business, further explanation of these businesses is included in Appendix 1.
(Pure Equity) Holding company business, refer to a company that only holds equity participations in other entities and only earns dividends and capital gains, and are subject to a reduced ES test.
We have attached a spreadsheet to collect various pieces of information required for the filing. Where you have multiple entities, please complete a spreadsheet for each entity. As you answer the questions in the spreadsheet it will highlight the remaining required fields, as depending on your answers not all fields are required to be completed. Please complete all the required fields (highlighted in red) and return to us.
Lastly, be aware that Cayman Island Tax Information Authority will impose penalties where inaccurate information is provided.
- Insurance Business
- Banking Business
- Fund Management Business
- Financing and Leasing Business
- Headquarters Business
- Shipping Business
- Distribution and Service Centres Business
- Holding Company Business / Pure Equity Holding Company Business
- Intellectual Property (IP) Business
Discover Cayman Islands
The Cayman Islands, a British Overseas Territory, encompasses 3 islands in the western Caribbean Sea. Grand Cayman, the largest island, is known for its beach resorts and varied scuba diving and snorkelling sites. Cayman Brac is a popular launch point for deep-sea fishing excursions. Little Cayman, the smallest island, is home to diverse wildlife, from endangered iguanas to seabirds such as red-footed boobies.
If you would like an Additional Service for a Cayman Islands Company Formation, please contact our office with your requirements and we will be happy to assist you.
Due Diligence Documents:
To comply with Money Laundering regulations, CFS Formations are requried to collect Due Diligence documents for officers within your company.
For a Cayman Island Incorporation we would require the following documents:
- Certified Copy of a Passport
- Certified Copy of a Utility Bill e.g., Gas / Electrical or Bank Statement (dated within the last 3 months)
If your business activities are classed as high risk, involve gambling or crypto currency, they may incur additional costs. We can check this before you order. Please contact our team for any further assistance you may require.
Ready-Made Offshore Companies
A Ready-Made Company is a company which has previously been formed and been stored as a non trading company. By purchasing a Ready-Made Company you can:
- Boost your business with an established company
Appear to be a reliable company that has been in business for several years
- Establish Business Relationships Easily
Business and Banking relationship are easily established with an older previously registered company
- Gain Confidence from customers
New and existing clients will feel more confident in dealing with you as your company has a history
- Be Reassured
All our Ready-Made Companies are non-trading companies, are totally clean and clear of any business debts and liabilities
Please click here to view more information about Offshore Ready-Made Companies and how they may benefit you. You will also be able to view a list of the countries where we can offer Offshore Ready-Made Companies. Unfortunately, the list of company names is always changing due to customer purchases. Therefore, we are unable to provide an exact list of the available company names on our website. To obtain the most recent list of available companies, please contact us.
Why use CFS for your Cayman Islands Company Registration
CFS has been dealing with Cayman Islands company formations for over 5 years and we pride ourselves on not only the speed in which we can incorporate but also the efficiency of the service we provide. All work carried out by our specialist teams for your Cayman Islands company registration is done with the utmost confidentiality.
Our Cayman Islands company formation package includes the registered agent and registered office and we have one of the lowest annual renewal prices.
We also have an easy online order form which can be used for a Cayman Islands company registration which reduces the need for lengthy forms to be completed.
Once you place an order you will have a dedicated business administrator who will deal with all the necessary requirements of the Cayman Islands company formation on your behalf.
Most jurisdictions have laws which require a licenced agent be located in their specific jurisdiction and for them to submit all incorporations and other relevant applications.
The on boarding, compliance and formation will be processed by the agent with CFS acting as introducer and intermediary.
What documents are required to setup a Cayman Islands Company?
For each officer within the company we will require:
- Certified copy of Passport
- Certified copy of a Utility Bill dated within the last 3 months – such as a Bank Statement, Gas or Electricity Bill
If the documents are not in English they should be translated. The documents should be certified as a true copy of the original by an Accountant, Solicitor or Notary.
Can I setup the company as a one-person Company?
Yes, the company can be setup as a one-person Company with only one Director and one Shareholder
Do I need a registered office in the Cayman Islands where I am forming the company?
Yes, you are required to have a registered office in the location you are forming your company and the price of this is included in our formation package and yearly renewal.
“I was very impressed with the service CFS provided for my Cayman Islands Formation, and the price of the package was cheap too, which was an added bonus! Thank you”