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Open a Branch in Cayman Islands

Open a Branch in Cayman Islands

Opening a Grand Cayman branch is one way in which a foreign company can establish its business operations in the Cayman Islands in 2023.

This type of establishment is commonly used by banks and other financial institutions, however, provided that the characteristics of the branch suit the investor’s needs, companies in different other industries can choose to register a branch.

The Cayman Islands are a popular location for setting up a place of business, especially for international companies. The low incorporation requirements, combined with the tax exemption for certain types of business forms, make the Islands attractive for entrepreneurs interested in Cayman Islands offshore company formation.

Foreign companies activating in the banking industry, or in other business fields, can reach out to our company formation experts if they plan on opening a branch in the Islands in 2023.

 Quick Facts 
  Applicable legislation

Part IX of the Cayman Islands Companies Law for foreign companies

Best used for

– group operations,

– expanding the company’s activities 

Minimum share capital


An annual fee is payable to the Registrar

Time frame for the incorporation (approx.) 

5 business days


Local, as appointed

Legal representative required


Local bank account 


Independence from the parent companyNo
Liability of the parent companyFull liability
Corporate tax rate  N/A 
Possibility of hiring local staff Yes

Read below a description of the characteristics of the Cayman Islands branch, as well as information about the incorporation requirements.

Investors who wish to set up a Cayman Islands company can reach out to our team of company formation experts for information on the differences between local company registration and branch formation. While some foreign companies will benefit from expanding their operations via a branch, in other cases the incorporation of a locally registered company can be favorable.

Those who require more information about other business forms, such as the limited liability company or the exempt company, can reach out to our Cayman Islands company formation agents for additional information.

The characteristics of the Grand Cayman branch

A branch is a business form that is incorporated by a foreign company intending to set up its operations in another jurisdiction. Some of its key characteristics are the following:

  1. Status: the branch is not an independent business form, such as the exempted company;
  2. Liability: the foreign company abroad is fully liable for the debts and obligations of its Caymanian branch;
  3. Activities: a Cayman Islands branch engages in the same business activities as the parent company abroad (for example, banking);
  4. Assets: are part of the foreign company’s total assets; however, the branch will have separate accounting records.

The most convenient manner in which foreign companies can register a Grand Cayman branch is through a company that provides special company formation services, such as the one run by our experts. We can provide assistance for registration, as well as handling other key matters for this business form through an authorized, resident representative.

Overseas company registration in Cayman Islands in 2023

As the branch is merely an extension of the parent company abroad, its registration with the Caymanian authorities will be closely linked to the foreign company.

Foreign companies will need to formally register their operations in order to be able to carry out business through a Grand Cayman branch. The following documents are required to register an overseas company:

  • Incorporation certificate: the foreign company’s certificate of incorporation, issued by the trade register in its country of origin;
  • Good standing certificate: a certificate issued by the relevant authority in the foreign company’s country of origin confirming that the company has a good standing status;
  • Information concerning directors: the names and other personal details of the foreign company’s directors or executives;
  • The authorized representative: the name and contact information of the Cayman Islands resident who will act as the foreign company’s representative (for example, accepting notices on behalf of the company).

Please keep in mind that this is only a summary of the required documents. Companies incorporated outside the Cayman Islands, which wish to engage in activities here, will need to provide services according to the local rules for licensing, as applicable in their field of activity. Our team of Cayman Islands company formation experts can give you more details.

Cayman Islands bank branch statistics

As previously mentioned, a Cayman Islands branch is commonly incorporated by a financial institution. According to the Cayman Islands Monetary Authority, most of the banks present in the jurisdiction conduct activities by opening a branch. The banking services statistics, made available by the Monetary Authority in September 2021, show the following:

  • 61% of the banks had established a branch;
  • 28% were operating through subsidiaries;
  • 11% were affiliate or private ones;

The banks that were present on the market were international ones, mostly from Europe or North America.

The same Cayman Islands Monetary Authority also provides us with informative data on the banking registration and licensing statistics for 2022:

  • There were a total of 11 Class A banks registered in Q4 2022;
  • The number of registered and licensed money services businesses was 5 in the last quarter of 2022;
  • Most of the licensed banks by region were from Europe (13 such entities in Q4 2022).

Banks interested in opening a Grand Cayman branch can contact our experts in company formation in Cayman Islands for more information about the regulatory requirements set forth by the Monetary Authority.

Foreign companies interested in setting up their operations in the Islands can contact us if they need personalized assistance during the set up process as well as for accounting services.

Together with our experts, foreign investors, entrepreneurs and company representatives can determine the most suitable form of business for their operations. We can help you with more details about the subsidiary, the exempted company, and other business forms.

Planning on setting up a branch or another type of legal entity in the Cayman Islands in 2023? Our team can help you throughout the needed stages so that your company can start trading as soon as possible.