Cayman Islands is called the best tax haven in the world. Located in the Caribbean, they are the overseas territory of Great Britain, therefore they are considered a politically stable and a secure state.
To register a company in the Caymans is a good solution for the tax optimization of a business. The Caribbean are also attractive to foreign entrepreneurs.
For those, who wish to open a bank account in the Caymans, many banks and large trust funds offer their services.
The advantage is also that a business registration in the Cayman Islands remotely will provide a tax exemption for up to 30 years.
A currency is KYD, equivalent to 1:1 to the USD.
Deciding to establish a non-resident firm in the Cayman Islands, an authorized capital should be USD 50,000, but it is not necessary to deposit it.
Cayman Islands are popular among businessmen, who seek to enter the Chinese market. If you plan to open a company in the Cayman Islands, please note that the jurisdiction is suitable for trading in Asia, for tax planning, for attracting new partners / clients. YB Case specialists will provide legal support in the establishment of the Cayman commercial enterprise. This jurisdiction is also known for the registration of non-resident companies here. Today, the largest representative offices of global companies are located in the Caribbean.
The activities of companies are carried out in accordance with the law, which was based on a general English law (1960).
Advantages of this region:
- The Cayman Islands do not belong to any of the “black lists” of tax havens and follow international tax rules. Therefore, opening a commercial organization in the Caymans means securing your business.
- To register a commercial firm in the Cayman Islands takes 24 hours.
- The current legislation does not impose requirements on a minimum authorized capital
- A proximity to the United States is a key factor, encouraging you to start a business in the Cayman Islands.
- Cayman Islands is one of the few jurisdictions, whose companies are listed on the Hong Kong Stock Exchange.
The disadvantages of this offshore jurisdiction include agreements with 25 states on the exchange of a tax information.
It should be noted, that registering an enterprise in the Cayman Islands is more expensive, than opening a business in similar jurisdictions.
Non-residents can acquire the land (there are no restrictions on this), but in order to acquire a part of the business (more than 40%), they need to get permissions in the Cayman Islands.
IT IS IMPOSSIBLE IN THIS JURISDICTION:
- to conduct a business without a license (in banking, financial and insurance spheres);
- to buy a real estate;
- to take a loan from local;
- to carry out trading activities.
Companies can issue stocks and choose names in any language. But, at the same time, it needs to be absent from the government. When data is entered into the register, the name is indicated in English.
You can familiarize yourself with a detailed guide on how to open an LTD in the Cayman Islands, or you can order legal support services in the registration process.
Why is it worth registering a company in the Cayman Islands?
Cayman Islands Advantages:
- a political and the economic stability;
- no a capital control (money freely comes and goes);
- a confidentiality;
- the access to Asian markets;
- the access to US markets;
- developed banking and legal sectors;
- you can not pay taxes for 30 years;
- you can register both offshore and a partnership in the Caymans;
- a partnership does not pay taxes 50 years;
- the minimum reporting.
How to open THE ENTERPRISE in the Caymans remotely?
The most common type of company in the Cayman Islands is the Exempted Company. In addition, you can set up a partnership in the Caymans or open a foreign company in the Caymans.
The necessary package of documents for THE registration of business in the Cayman Islands remotely:
- a notarized copy of registration documents;
- a certificate of good standing issued by the relevant authority;
- a certified copy of the Charter or Memorandum of association;
- names and addresses of directors;
- the name of the person, who can provide services on behalf of the company
The annual fee is about 9756,1 dollars. The state fee for reviewing a license application is USD 609,76.
You can familiarize yourself with a detailed guide on how to open an LTD in the Cayman Islands or contact our specialists for help.
Our staff will provide you with legal support in preparing all the necessary documents and quickly solve all organizational issues. A cooperation with us is always reliable, fast and convenient!
Receive legal advice on establishing a firm in the Caymans from YB Case experts.