Cayman Company Formation
Cayman Islands lies in between Cuba and Central America and comprises of three islands. With over 600 banks, Cayman Islands are known as the one of the world largest centers of offshore banking. They are peaceful in regards of political atmosphere and their infrastructure has been designed commercially. As there is no exchange control, it leads to a free transfer of funds to or from the islands.
An exempt corporation can be termed free of tax and can enjoy this status for almost twenty years. To get benefit from this, there is no such need of registering or reviewing the accounts, as well as, there is a minimal need for reporting for this corporate body. If the holding of the shares lies with a person having custody under the consent of Monetary Authority of the region, then the bearer shares are allowed to be distributed. Under the name of any person or any incorporated company, the shares can be filed. It is a wrongful act to disclose information that is secretive in nature under the Confidential Relationship (Preservation) Law. Also, any act of intentionally retrieving the secretive information or endeavouring to retrieve the secretive information about any type of companies in the region, is termed unlawful by it.
Following are the requirements for company incorporation in Cayman Islands:
Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:
Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.
It takes 1 to 2 weeks for company incorporation in Cayman Islands.
Offshore Bank Account
For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.