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CAYMAN ISLAND 

The fee for the set up of an exempted company in Cayman Islands is:

  • EUR 4500 

 

The annual maintenance fee is:

  • EUR 2850

 

The annual maintenance fee includes the following services:

  • Provision of registered office and registered address

  • Provision of registered agent and company secretary

  • Beneficial Ownership Reporting Annual Compliance Fee

  • Payment of annual government fee

  • Payment of the Government License Fees

 

Note: provision of registered office, registered agent and company Secretary must be renewed by December 31 irrespective of the date of incorporation.

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Here-in-below you may find brief information for further reference:

 

MEMORANDUM AND ARTICLES OF ASSOCIATION

In order to incorporate an Exempt Company in the Cayman Islands, the Memorandum and Articles of Association must be submitted to the Registrar of Companies, together with a sworn statement from the directors declaring that the business activities of the proposed company will be undertaken mainly outside the Cayman Islands. Kindly note that the names and addresses of the proposed first directors must be disclosed to the Registrar.

 

SHAREHOLDERS

A minimum of one shareholder is required which may be an individual or a legal entity. Details of the shareholders do not appear in the public records.

 

SHARE CAPITAL

There is no minimum capital requirement however there must be at least one share of no par value or one share of par value issued at all times. The standard share capital is USD 50,000.00 divided into 50,000 shares of USD 1.00 each and this is the maximum for the minimum capital duty payable to the Registrar of Companies. The minimum issued share capital is one share. Preference shares, redeemable shares and voting or non-voting shares are permitted. Bearer shares are not permitted.

 

DIRECTORS

An Exempt Company must have at least one director, which can either be an individual or a legal entity. Directors can be of any nationality or residence, and need not also be shareholders. Directors’ register is not available for public inspection/records.

 

REGISTERED OFFICE AND SECRETARY

Every Cayman Islands Company must have a local Registered Office. The Cayman Islands Companies Ordinance does not make any specific reference to a requirement for a company Secretary; however, it is customary to have company Secretary, who can be an individual or a corporate body.

 

MEETINGS

An Exempt Company has to hold one director’s meeting a year in the Cayman Islands. Shareholders meetings may be held outside the Cayman Islands by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.

 

INCORPORATION TIME

Approximately 3 to 7 working days from the moment we lodge the application order with the local registry.

 

TAXATION

Cayman Island companies are not subject to any form of direct taxation in the Cayman Islands. The Exempt Company may additionally benefit from a tax exemption certificate granted for a period up to 20 years as a safeguard against the local system of company taxation.

 

AUDIT AND FINANCIAL RETURNS

There is no requirement to file audited accounts for Exempt Companies; nevertheless, the company is required to keep financial records, which should reflect the financial position of the company.

 

Just to advise that in case a bank account will be opened for the company, then an apostilled bundle to include copies of all the corporate and statutory documents, will be required.

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