Cayman Islands Offshore IBC Company Formation
The Cayman Islands is a British Overseas Territory in the western Caribbean Sea, consisting of three low-lying islands: the main island, Grand Cayman, the Little Cayman, and Cayman-Brac, with the capital at George Town.
As a significant international financial centre, Cayman Islands offshore companies benefit from a strong economy, enjoying full employment with most of the revenue being derived from the financial services sector and tourism, making it an attractive destination for Cayman Islands Offshore IBC Companies.
The Cayman Islands are a British colony, and therefore, the United Kingdom Parliament at Westminster retains the right to legislate, providing a stable legal framework for Cayman Islands Offshore IBC Companies.
The Cayman Islands enjoy sophisticated legal, accounting, and banking services, which are advantageous for Cayman Islands Offshore IBC Companies.
Political stability is derived from their connection with Britain, ensuring a secure environment for Cayman Islands Offshore IBC Companies.
The Cayman Islands offshore centre has become the preferred choice for many financial institutions, as there are over 500 banks registered there, providing ample opportunities for Cayman Islands Offshore IBC Companies.
The principal corporate legislation is The Company Law of the Cayman Islands, based on the English Companies Act (1948). It can be found in the Cayman Islands Companies Law of 1960 (amended), offering a familiar legal framework for Cayman Islands Offshore IBC Companies.
Cayman Islands Exempt Companies can be incorporated with bearer shares, adding flexibility for Cayman Islands Offshore IBC Companies.
However, the bearer shares must be kept in the custody of an “authorized custodian,” which is defined as a bank or trust company or company manager licensed to do business in the Cayman Islands, ensuring the security of assets for Cayman Islands Offshore IBC Companies.
Companies that do not derive any income from sources in the Cayman Islands are not subject to tax, creating a favourable tax environment for Cayman Islands Offshore IBC Companies.
The Cayman Islands, with its British Overseas Territory status, provides a unique legal framework for Cayman Islands Offshore IBC Companies.
The strong economy and revenue sources from the financial services sector and tourism benefit Cayman Islands Offshore IBC Companies.
The connection with Britain adds to the political stability enjoyed by Cayman Islands Offshore IBC Companies.
The presence of over 500 banks offers ample financial services options for Cayman Islands Offshore IBC Companies.
The familiarity of The Company Law of the Cayman Islands simplifies corporate compliance for Cayman Islands Offshore IBC Companies.
The option for bearer shares enhances the flexibility of Cayman Islands Exempt Companies for Cayman Islands Offshore IBC Companies.
The tax-free status for companies not deriving income from Cayman Islands sources is a crucial advantage for Cayman Islands Offshore IBC Companies.
For additional information about Cayman Islands Offshore IBC Company, you can check the site Consil Formation.
Advantages of Cayman Islands Offshore IBC Company Formation:
If you are interested in the Cayman Islands Offshore IBC Company Formation, you can contact us any time.
Summary of Cayman Islands Offshore IBC Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Exempt Company |
| Corporate Legislation | English Companies Act of 1948, Companies Law 1961 and Amendments. |
| Taxation | No taxes of any sort. Corporation Tax – 0% Tax on Dividends – 0% Withholding tax – 0% |
| Currency | Standard Currency US$ Share Capital can be in US$ |
| Paid up capital requirement | No paid up capital required |
| Time zone | GMT-5 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | No, but may be appointed |
| Local Secretary required | No |
| Local Registered office required | Yes |
| Share Capital | |
| Standard Currency | US$ |
| Standard Authorized Capital | US$50,000 |
| Minimum paid up capital | No |
| Accounting Requirements | |
| Preparation of accounts | Proper books of account must be kept and must be retained for a minimum period of five years. |
| Requirement for audit | No |
| Accounts public accessible | No |
| Requirement to file Annual Return | No |
| Further Information | |
| Bearer shares | Yes, on certain conditions |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | No |
| Owners | Individuals or Corporate |
Register your Cayman Islands Offshore IBC Company
- Document Notarization per document:
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.