INTRODUCTION
The object of this Memorandum is to provide information on the formation and operation of the different varieties of company available in the Cayman Islands. We would, however, strongly recommend that our clients consult local tax specialists in their own jurisdictions to ensure the effectiveness of their proposals.
TYPES OF COMPANIES
Exempted Companies
The Companies Law of the Cayman Islands provides for a category of companies which will carry on business mainly outside the Islands. Such companies - called "exempted companies" - provide the vehicle that we would normally recommend to clients wishing to form a corporate body for offshore business.
Exempted companies are unsurpassed in the offshore financial world for flexibility, sophistication and speed of incorporation.
The key features of exempted companies are set out below.
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