
Cayman
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The Cayman Islands consist of a group of three islands ,situated approximately 500 miles South of Miami, Florida in the Caribbean Sea. The Cayman Islands are a British Colony with the United Kingdom passing ligislation. The islands are a flourishing financial offshore centre and have a strong economy enjoying full employment.
- Currency: The Caymanian Dollar
- Language: The official language is English
- Type of law: Common Law
- Type of company: Exempt
- Principal Corporate Legislation: The Company Law is based on the English Companies Act of 1948 and can be found in the Cayman Islands Companies Law (2007 revision); Companies Law (2009) revision and Companies (Amendment) (No.2) Law 2009
- Uses: Commercial and trading activities, subject to trading restrictions as below
- Trading Restrictions: Companies cannot trade or own real estate in the Cayman Islands. Trading cannot be associated with banking, insurance or mutual funds, unless licensed.
- Company Name: Restriction: Cannot be in conflict with pre-existing company. Any name that in the opinion of the Registrar is undesirable or suggest an illegal activity or any name that may imply government patronage.
- Language: Any languages using Latin alphabet. Chinese or Arabic is acceptable with translation.
- Suffixes: Limited, Corporation, Incorporation or their abbreviations.
- Language of legislation and corporate documents: English
- Taxation: No tax on offshore profits
- Annual license fee: USD 832 for share capital under USD 50.000
- USD 1.098 for share capital over USD 50.000
- USD 2.298 for share capital over USD 1m up to 2m
- USD 3.010 for share capital over USD 2m
- Double Tax Treaty Network: The Cayman islands is not party to any Double Taxation Agreements.
- Registered agent/office: A registered office must be maintained within the Cayman Islands and there must be a Cayman resident appointed as an agent.
- Shareholders: Minimum number: One
- Publicly accessible records: No
- Register of Shareholders: Must be kept at the Registered Office
- Disclosure of Beneficial Owner: Not publicly available
- Directors: Minimum: One
- Can be corporate or natural person
- Nationality: No restriction
- Publicly accessible records: No
- Location of meetings: No restriction
- Secretary: Local or qualified: No restriction
- Share capital: Permitted currency: Any
- No minimum or maximum capital requirement
- Only nominative/registered shares are allowed
- Bearer shares: Not allowed
- Annual Reporting: There is no requirement to file accounts but an annual return in the form of a sample declaration must be submitted