GENERAL INFORMATION |
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Location | Caribbean, 580 miles south |
Population | 30,000 |
Native language | English |
Currency | Cayman Islands dollar |
Political status | Crown Colony, very stable |
Constitution | Extended by Order-in-Council |
Banking & professional facilities | Excellent |
Legal system | Modelled from the British Common Law, with local statutes |
Offshore specialities/expertise | Banking, insurance, mutual funds, finance, corporate domicile |
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TAX REGULATIONS |
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Income tax |
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resident | No |
non-resident | No |
Trusts |
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resident | No |
non-resident | No |
Corporate tax |
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resident | No |
non-resident | No |
exempt % | No |
Estate duty | No |
Withholding taxes | No |
Exchange controls |
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resident | No |
non-resident | No |
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TRUSTS |
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Are trusts permitted? | Yes |
Perpetuity period | Life in being plus 21 years or 150 years |
Accumulation period | Same as perpetuity |
Statutory trust law | Yes |
Trust duty | No |
Forced heirship exclusion | Yes |
Asset protection measures | Yes |
Trust register | Yes, for exempted |
Resident trustee/s required | No |
Regulation of trustees | Yes |
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CORPORATION LAW FACTORS |
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Type of corporate vehicles | Exempted companies, non-resident companies, limited duration corporations |
Incorporation time scale | One day |
Fees: Incorporation - Government | Exempted company with G$42,000 authorised capital Cl$470 incorporation; nonresident Cl$400 incorporation |
Other | Limited duration corporation - Cl$470 |
Annual - Government | Exempted - CIS470; Non-Resident -CIS400 |
Fees: Other | Limited duration corporation - CI$470 |
Resident directors required | No |
Min number of directors required | One |
Directors meetings required | One per year, can be held by proxy |
Other requirements | N/A |
Beneficial ownership disclosure | No |
Shareholder disclosure | No |
Minimum number of shareholders | One |
Bearer shares allowed | Yes, for exempted company only |
No-par value shares allowed | Yes |
Public share register | No, not for exempted companies |
Shareholders meetings required | No, for exempted; Yes, for non-resident |
Location/frequency | Non-resident - one per year |
Place | No requirement to have shareholder meeting on Cayman Islands |
Annual return required | Yes |
Audit required | No |
Foreign currency accounting allowed | Yes |
Registered office | Yes |
Registered agent | Yes - same as office |
Stamp/capital duty | No |
Naming your company | Choice of name available, names which include Royal, Imperial, Empire, Bank, Insurance, Building Society are restricted |
Company mobility provisions/redomicility rules | Provided for in law and flexible |