Incorporation in the Cayman Islands
The Cayman Islands is one of the popular tax havens in the world. Located in the Caribbean, they are the overseas territory of Great Britain. Therefore, the Caymans are considered a politically stable and secure state.
The Cayman tax neutrality dates back to the eighteenth century. Some local lore claimed that King George III made a promise to the Islands never to tax or impose taxes, as a reward for saving his son, Prince William, from his ship which wrecked on a reef in February 1794. As of today, there are no taxes on any profit or income, on the payment of dividends, investments and capital gains in the Caymans. Therefore, registration of a company in the country is the best solution for tax optimization of business.
Its geographical location (not far from the United States) is often one of the key factors that draw investors to incorporate a company in the Cayman Islands.
The most common type of enterprise in the Cayman Islands is the Exempted Company. Such companies are exempted from annual filing, but they must maintain financial statements that reflect their performance. These statements may be stored in any form, anywhere around the world.
However, your company name must end with Limited, Corporation, Incorporated, Societe Anonime, Sociedad Anonima or such abbreviation.
The incorporation process will include a background check, submission of all the documents required and payment of incorporation fee. You do not need to be on the Islands physically. The incorporation can be done through an agency.
The documents you need to provide are:
The Passport of every shareholder/beneficial owner and director;
The ID of every shareholder/beneficial owner and director;
Proof of residential address of every director and shareholder/beneficial owner (must be in English or a certified translation to English).
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