Cayman Islands
CREATE A COMPANY IN CAIMAN ISLANDSCOMPANY TAX - 0% -
Create, form or create a company in Cayman Islands
Country characteristics:Geographic location: Caribbean.Political regime: British overseas territory.Population: 58,435 inhabitants (2013).Idiom: English.Currency: Cayman Islands dollar.Time zone: GMT-5.
PRESENTATION
The Cayman Islands, a British overseas territory located in the Caribbean Sea, enjoy numeroustax advantages that attract foreign entrepreneurs for the creation of offshore companies.
This jurisdiction is one of the best known offshore financial centers due to the high level ofconfidentiality offered to investors.
The most developed economic sectors in the Cayman Islands are the following: tourism, real estate,offshore financial services and transportation.
SOCIETY CREATION
The type of company used most frequently in the Cayman Islands is the: "Exempt Company" due to the greatflexibility and confidentiality offered to directors / managers and shareholders.
• There are no limitations regarding the number of shareholders, their residence or their nationality. Asingle shareholder can be enough. However, it is necessary to have at least one director.
• There is no minimum capital requirement nor is it mandatory to "lock" it in a bank account.
• The companies are adapted to all types of legal activity and activities can be carried outrelated to finance, online games, banking or insurance after obtaining the corresponding license.
A company can carry out several activities.
• The activity of the company must be carried out abroad.
• Companies can be managed from another country. For example, all official meetings ofshareholders and managers can be held abroad.
TAXATION
The Government has decided to implement different measures to fight as much as possible against evasion and fraudfiscal.
For this reason, several international conventions and an agreement for the exchange ofinformation with the United States.
• A company created in the Cayman Islands does not pay taxes or fees on profits or ondividends or capital gains obtained during the first 20 years. Must simplypay a fixed annual fee of a few hundred euros.
• In the same way, companies are not obliged to maintain accounting but they mustsubmit the annual return.
• There is no right of succession on the transfer of shares, in the event ofdeath of one of the shareholders of the non-resident company.
• Discretion: Shareholders who create a company are registered in the local registry. Can be withoutHowever, establish a "nominated" front man system, both for shareholders and for the manager.
The Cayman Islands maintain bank secrecy.
Characteristics of the creation of a Caymanian society:Kind of society:Exempt Company.Capital needed: No minimum capital is required.Legal system: Anglo-Saxon Law (Common Law).Number of directors / shareholders: Minimum, 1 director / 1 shareholder.Anonymity and Confidentiality (Nominee Service): The name of directors and shareholders appears in the Public Registry, so the services of a nominee can be used.Secretary service: No but highly recommended for all on-site management.Company taxes (On profits): 0%.Fortune tax: 0%.VAT: 0%.Government fees:- Capital from 0.00.- to 50,000.00.- USD: 732.00.- USD.
Links of interest:
Cayman Islands Government Website: http://www.gov.ky
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