Cayman Islands
The Cayman is a British Overseas Territory in the western Caribbean Sea. The 264-square-kilometre territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman located south of Cuba. With an average income of around KYD$47,000, Caymanians have the highest standard of living in the Caribbean. The government’s primary source of income is indirect taxation: there is no capital gains tax, income tax, or corporation tax.
Key Benefits:
- Annual reporting, auditing and accounting are not required.
- The absence of direct taxation makes Cayman Islands a heaven for long term business planning and the perfect place to maximize efficiency.
- No minimum capital requirement for a company formation.
- Only one Shareholder and one director is required for incorporating the company, which can also be the same person or corporate entity.
- Corporate bank accounts with benefits and advantages towards the corporate sector.
Fact Sheet
General
| Type of Company | |
| Type of Law | Common |
| Shelf company availability | Yes |
| Our time to establish a new company | 1-2 days |
| Minimum government fees (exl. Tax) | US 732 |
| Corporate Taxation | Nil |
| Double Taxation Treaty Access | No |
| Share capital or equivalent | |
| Standard currency | US |
| Permitted currencies | Any |
| Minimum paid up | US 1 |
| Usual authorised | US 50.000 |
Directors & Secretary
| Minimum Number | 1 |
| Local Required | No |
| Publicity accessible reports | No |
| Location of meetings | Anywhere |
| Secretary | Not required |
Shareholders
| Minimum Number | 1 |
| Local Required | No |
| Publicity accessible records | No |
Accounts
| Annual Tax Return | No |
| Audit Requirements | No |
| Requirements to file accounts | No |
| Publicity accessible records | No |
Other
| Requirement for file annual return | Yes |
| Change in domicile permitted | Yes |
| Recurring Government costs | |
| Minimum annual Tax/ License Fee | 0 |
| Annual Return Filling Fee | Yes |