Here are 10 of the most frequently asked questions our Cayman Islands incorporation consultants get from our clients.
The Cayman Islands is famous for registering offshore companies and it confers and extremely advantageous tax system which does not impose taxes on income, corporate gains, inheritance, capital gains or gifts.
A Cayman Islands exempted company is incorporated when the registration documentation is filed with the Registrar of Companies.
The certificate of incorporation is issued by the Registrar of Companies in maximum two to three business days after filing.
Such a legal entity in the Cayman Islands should have at least one director.
It is a frequently asked question we often receive. The answer is no, it is not necessary to have local directors and shareholders for setting up a Cayman Islands exempted company.
The Cayman Islands has an alternative tax system. There are no company or corporation taxes, no income taxation, inheritance, capital gains or gift taxes here.
An exempted company in the Cayman Islands should have at least one voting shareholder.
For private persons, a residential address is needed. For legal entities, a registered office address or a business address is required.
It is not mandatory.
A simple company termination can last two to three days to be completed.
Our Cayman Islands company formation consultants appreciate that the time needed for receiving the certificate of incorporation is around two to three business days, unless it is filed on an express basis, when the certificate is returned in a few hours.
If you have more questions about the Cayman Islands incorporation procedures, please do not hesitate to contact us.