Foreign investors who wish to set up a business commonly use the Cayman Islands non-resident company. This is a type of legal entity that is an alternative to the exempted company and can engage in offshore business transactions as it is not allowed to do business in the Islands. This is an important aspect for those interested in Cayman Islands incorporation, however, for investors who wish to engage in offshore activities, it does not hinder their purpose.
The non-resident company, also called the ordinary non-resident company is granted a certificate of non-residence by the Registrar of Companies and the Minister of Finance. This document will expressly state the fact that it will not engage in business operations in the Islands.
Investors who wish to change the business form can decide to convert the ordinary non-resident company into a Cayman Islands exempted company.
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The non-resident company can successfully be used as an offshore holding company (that is to hold shares in other foreign companies) as well as for other business purposes that do not take place on the Cayman Islands territory.
Listed below are the main traits of the Cayman Islands non-resident companies:
These characteristics make the ordinary non-resident company a business form that can be easily incorporated by investors who wish to engage in offshore activities in the Cayman Islands. What’s more, according to the local privacy laws, the identity of the beneficial owner is protected, as it is not available publicly. For an increased level of protection, or for those investors who do not wish to make public all of their investments, the option to use a nominee shareholder and/or a nominee director service is available.
The incorporation and the corporate management and reporting requirements for an ordinary non-resident company are simple ones and our team of Cayman Islands company formation agents details these below:
Our team can help investors who are interested in opening a bank account for their company.
The faster and most convenient manner in which a foreign investor can open a non-resident company is by requesting the services offered by our Cayman Islands incorporation agents. We provide complete registration services and the company will be ready for business purposes in the shortest amount of time possible. Our team of specialist can also provide additional registered office services, nominee director and nominee shareholder services.
The Cayman Islands ordinary non-resident company offers a number of benefits, from easy incorporation to the lack of taxes and the simple accounting and filing requirements. You can contact our Cayman Islands company formation agents if you require specialized assistance for opening this business form.