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Cayman Islands company formation - how to incorporate and what are the benefits?

Cayman Islands company formation - how to incorporate and what are the benefits?
A well-developed international business is the cherished dream of most entrepreneurs. 
2019-04-29 21:03:51 Поделиться:

A well-developed international business is the cherished dream of most entrepreneurs. However, not everyone can make this dream come true with extremely high taxes often becoming an insurmountable obstacle.

Offshore jurisdictions are considered a good way out - in this case the company is registered in one country, and the business is conducted in another. In order for the scheme to bring benefits, you should choose a state with a minimum tax rate for non-residents - and the Cayman Islands can become such a state.

The procedure and benefits of business in Cayman Islands

The Cayman Islands company formation is famous for its extremely simple procedure. You can start business remotely from any part in the world, and you will need to provide just very few documents for this. The list includes:

  • Registration documents (notarized copies);
  • Copies of the memorandum of association or company charter - a notary must also certify their authenticity;
  • The names and contacts of the persons managing the company.

You will also need to provide the name of a person who can act on behalf of the company. It should be noted that you may proceed not only with the Cayman Islands company formation, but also open a partnership - in this case, doing business will become even more convenient.

The state provides the following beneficial benefits to companies officially registered in its territory:

  • No taxation for 30 years, and for partnerships this period is extended to 50 years;
  • the absence of any financial control by the state — in the Cayman Islands, there is no need to worry about auditing, or annual reporting, or accounting reports;
  • Lack of control over capital - company owners can freely withdraw funds from the country or transfer significant amounts to their accounts.

The banking sector in the country is very well developed, and in the interests of foreign entrepreneurs the country has about 270 banks in which you can freely open corporate accounts.

Cayman Islands company formation procedure takes from a day to a couple of weeks; you can carry out the procedure both independently and with the help of professionals. The state has convenient requirements to the authorized capital for offshore companies - such capital must be at least 50 thousand dollars, but in fact, it is not necessary to input funds.

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