ATAHK Hotline86-755-82143422

Page index: Home > » Biz Startup » Cayman Business Setup

Cayman Offshore Company Formation

Update Date:2018-4-26 11:23:36     Source:www.3737580.com     Views:995

Cayman Offshore Company Registration Service
Hotline: 86-755-82143422 Email: anitayao@citilinkia.com

Cayman Islands company formation is a tax efficient corporate solution for international entrepreneurs. Cayman Islands Companies Act is based on English Common Law. Companies are of two categories: Exempted Company and Non-Resident Company. Exempted Company is a more popular form of registration, the name of which need not end with "Limited", and it can apply for a 20-year term tax exemption certificate to further increase its tax advantages.

 

 

Cayman Offshore Company Formation - Name of the Company
There is no requirement to utilize a suffix to denote limited liability, although normally companies are incorporated to include the suffixes Limited, Incorporated, Corporation or their abbreviations. The following names to be used, require licensing: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset Management, Fund Management, Investment Fund, Building Society, Municipal, Chartered. Names denoting any connection to local, state or national Governments are generally prohibited. Names can be expressed in any language using the Latin alphabet, if the Registrar of Company receives a translation thereof. The corporate documents will however be in English.

 

Cayman Offshore Company Formation - Memorandum and Articles of Association
In order to incorporate an Exempt Company in Cayman Islands, the Memorandum and Articles of Association must be submitted to the Registrar of Companies, together with a sworn statement from the directors declaring that the business activities of the proposed company will be undertaken mainly outside the Cayman Islands. The names and addresses of the proposed first directors must be disclosed to the Registrar.

 


Cayman Offshore Company Formation - Shareholders
A minimum of one shareholder is required which may be an individual or a corporate body. Details of the shareholders do not appear in the public records.

 

 

Cayman Offshore Company Formation - The Share Capital
There are no minimum capital requirements in the Cayman Islands under the Companies Law but there must be at least one share of no par value or one share of par value in issue at all times. The standard share capital is USD 50,000.00 divided into 50,000 shares of USD 1.00 each and this is the maximum for the minimum capital duty payable to the Registrar of Companies. The minimum issued share capital is one share. Preference shares, redeemable shares and voting or non-voting shares are permitted. Bearer shares are also permitted but must be held by an authorized or recognized custodian as approved by the Cayman Islands Monetary Authority.

 


Cayman Offshore Company Formation - Directors of the Company
An Exempt Company must have at least one director, which can either be an individual or a body corporate. Directors can be of any nationality or residence, and need not also be shareholders. Directors’ register is not available for public inspection.

 

 

Cayman Offshore Company Formation - Registered Office and Secretary
Every Cayman Islands Company must have a local Registered Office. The Cayman Islands Companies Ordinance does not make any specific reference to a requirement for a company Secretary; however, it is customary to have company Secretary, who can be an individual or a body corporate.

 


Cayman Offshore Company Formation - Taxation
Caymanian companies are not subject to any form of direct taxation in Cayman Islands. The Exempt Company may be additionally benefited of a tax exemption certificate granted for a period up to 20 years as a safeguard against the local system of company taxation.

 

 

Cayman Offshore Company Formation - Audit and Financial Returns
There is no requirement to file audited accounts for Exempt Companies; however, the company is required to keep financial records, which should reflect the financial position of the company.

 


Cayman Offshore Company Formation - Meetings
An Exempt Company has to hold one director’s meeting a year in Cayman Islands. Shareholders meetings may be held outside Cayman Islands by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.

 

Contact Us

For further queries, please do not hesitate to contact ATAHK at anytime, anywhere by simply calling China hotline at 86-755-82143422, 86-755-82143512, or emailing to anitayao@citilinkia.com 

Back Home   Back Previous   BizBrainBase
查看下一篇: Cayman Offshore Banking