CAYMAN ISLANDS

 

Law

The Companies Law (2004 Revised)

 

Incorporation

Incorporation normally takes 3-5 working days, though an “off the shelf/ready made” company could be quicker.

 

      Company Name

An exempt company name must end in “Limited (Ltd)”, “Incorporated (Inc)”, “Corporation (Corp)”, “Society Anonyme (SA)” and “Sociedad Anonima (SA)”.  A Non Resident company must end in Limited (Ltd). There are also restrictions on the use of certain words or business descriptions, such as Royal, bank, insurance.

 

Directors

The minimum number of directors is one.

The Director does not have to be resident

Corporate directors can be appointed

 

Secretary

A secretary is mandatory

The secretary does not have to be resident

 

Share Capital

The minimum number of shareholders is one.

Companies can issue bearer shares, but they must be held by a custodian appointed by the authority.

Corporate shareholders are allowed

No par value shares are permitted

Shares do not have to be held by residents

Where some shareholders are nominees, the ultimate beneficial ownership does not have to be declared.

Authorised share capital normally US$ 50,000

 

Meetings

No requirement to hold an Annual General Meeting (AGM). 

Director meetings and the AGM may be held anywhere

 

Seal

A company seal is usual

 

Accounts/ Financial Statements

Accounts do not have to be filed

 

Records to be kept

There is no requirement for records to be kept in the jurisdiction

 

Registered Office/Registered Agent

A Registered 0ffice is required in the jurisdiction

 

 

Annual return

An Annual return is required.

 

Price

First year costs                 £3650

Annual renewal fee           £1750 (includes Registered Agent, Government fee and Annual Return fee)