The Grand Cayman Islands are the most popular offshore jurisdiction, with favourable business regulations, a prosperous economy and a stable political situation.
Grand Cayman Islands IBC, is a limited liability company which conducts its trading and business outside the Grand Cayman Islands and is intended for offshore activities. It takes 4 days to incorporate a company in the Grand Cayman Islands.
The Directors of the company may be of any nationality and may reside anywhere. At least one director is required and there is no requirement to appoint a local resident director.
The Shareholders of the company may be of any nationality and may reside anywhere. At least one shareholder is required, this can be the same person as the director. There is no upper limit to the number of shareholders and a shareholder can be a person or a corporation
The standard share capital of a Grand Cayman Islands IBC is $50,000 USD. However, only one share of the share capital must be issued and paid up. Your company's share capital can be issued in any currency.
Company Secretary / Registered Office / Registered Agent
The company must have a registered agent and registered office in the Grand Cayman Islands. There is no requirement for local secretary.
The details of shareholders do not appear on public record compared to Directors details which are fully accessible.
The company must maintain accounting records, however it is not necessary to keep records in the Grand Cayman Islands and there is no requirement to file accounts or financial statements. There is no need for having audited accounts.
Corporation and other taxes
There are no corporate taxes for a Grand Cayman Islands IBC, except for annual government levy of US$855 for standard share capital.
Why use a Grand Cayman Islands Company.
The modern offshore legislation provides maximum flexibility in global asset protection and privacy protection.
Grand Cayman Islands offshore companies are commonly used for
- Alternative Investment Funds, Hedge Funds, Mutual Funds;
- Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title;
- Owner of the shares of other companies or legal entities;
- Owner of real estate and any other movable or immovable property or goods;
- Manager and promoter of international business transactions;
- International leasing of aircraft, vehicles, machinery and others;
- Borrowing or lending money, paying or receiving commissions, royalties or others;
- Marketing and promotion of products and services;
- Other commercial and financial activities
Our Formation Package
- Registered Address and Agent
- Company Secretarial Maintenance
- Government fees
- Certificate of Incorporation
- Memorandum & Articles of Association
- Appointment of First Directors
- Consent Actions of the Board of Directors
- Share Certificates
- Register of Directors and Members
- Company Seal
We also offer Nominee and Management Services (Substance requirements) along with bank account opening and international tax planning.
Prices and fees included on our website
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.