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Company Formation in Cayman Islands

Get started with your Cayman Islands company formation.

Located in the western Caribbean Sea, the Cayman Islands is an overseas territory of the United Kingdom. In recent years, the Cayman Islands company law has formed a reputation of creating a business friendly environment with minimum requirements pertaining to company formation in the Cayman Islands. As of 2016, more than 99,000 active companies were registered in the Cayman Islands, including almost 300 banks, 750 insurers, and 10,500 mutual funds.

Our services include: 

  • Provision of Registered Office and Registered Agents
  • Company name search
  • Review of due diligence documents
  • Provision of relevant Company Secretary documents
  • Annual filing and renewal
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We offer a unique delivery model with technology that enables us to provide an unrivalled service which has successfully supported more than five hundred companies.

Benefits of Company Formation in the Cayman Islands

  • Cayman Islands company law is modern, flexible and commercially minded 
  • No annual reporting, accounting or auditing requirements
  • Only one shareholder and one director is required – these individuals can be the same person or corporate body with no restrictions on nationality
  • Complete lack of direct taxation, enabling long term business planning
  • No minimum capital requirement for company formation
  • A offshore Cayman Islands company can be run from anywhere in the world

Cayman Islands Company Formation Requirements

The requirements surrounding Cayman Islands company formation are among the most relaxed in the world. A minimum of one shareholder is required, who may either be a person or another company or trust. In addition, at least one director is required for company formation although there are no residency requirements regarding a Cayman Island company’s director or company secretary. Lastly, the Cayman Islands does not impose a minimum requirement for authorized capital shares

Annual Maintenance

  • Cayman Islands company law is modern, flexible and commercially minded 
  • Annual returns must be filed yearly in the Cayman Islands
  • There are no requirements for corporations to submit financial records when filing annual returns
  • Cayman Island companies that do not hold licenses to carry on business in the Cayman Islands must file annual returns, together with the appropriate annual filing fee with the Cayman Islands Registrar each January
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FAQs

Do I have to be physically present in the Cayman Islands for company formation?


No. Company formation in the Cayman Islands can be completed abroad with the help of a professional service provider!

Do I need to provide any address for company formation purposes?


If you are contemplating company formation in the Cayman Islands as an individual, a residential address is required. For companies who wish to form a subsidiary in the Cayman Islands, a registered office address or business address is required. 

What are Economic Substance (“ES”) Laws and how does that affect me?


The ES Laws were introduced by the Organisation for Economic Co-operation and Development (“OECD”) with the intention to address profits being earned by offshore companies in jurisdictions such as those mentioned above. The laws state that profits being earned by offshore companies need to be aligned to where the business or profit-generating activities are being carried out, thus potentially affecting the tax outcome. 

 

Effective from 1 January 2019, the law stipulates that companies who carry out “relevant activities” in the countries where the ES Laws are applicable, will be required to maintain an increased level of substance in their incorporated jurisdiction. Such activities are broadly defined to include a wide range of business activities, including fund management, distribution and service center businesses, holding company businesses, finance and many more. In the past, most companies did not maintain much substance in their jurisdiction. Companies who wish to incorporate must now take this new law under consideration.

 

How do I determine if my company is conducting “relevant activities”?


To determine if your company registered in one of the above jurisdictions is conducting “relevant activities” applicable under ES Laws, one must determine whether they meet the various criteria set for each industry.

 

As the laws and criteria for each “relevant activity” varies among each industry, it is recommended to obtain assistance from a recognised company formation specialist such as FastLane to help determine how the ES laws affect your business and long-term plans.

 

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