Cayman islands offshore company formation
The Cayman Islands are a self-governing British Overseas Territory in the West Indies. British Overseas Territories are not part of the United Kingdom, but their citizens are considered British citizens. The United Kingdom takes care of their Foreign Relations and Defence, placing them under the Parliamentary Under-Secretary of State for the Overseas Territories and Sustainable Development. So you can see why Cayman Islands offshore company formation needs to be handled by an experienced business setup professional who also has knowledge of international law.
The Cayman Islands have a population of about 68,076 and its capital is at George Town, which itself is the most populated city in the British Overseas Territory with 40,200 residents. The Cayman Islands have a very mature legal system that closely resembles the courts in the UK, and are hence considered the best place to incorporate an offshore company.
Why makes the Cayman Islands a great place to set up your company?
English is the official language of the Cayman Islands, and their legal system is based on English Common Law. This makes it very easy to understand the system, and the Cayman Islands tries to simplify everything as much as possible.
Cayman Islands Companies Act (2021 Revision) is what governs much of company formation. It is possible for foreigners to register a company in the Cayman Islands, and in case the company is being set up as a Legally Limited Company, the laws of the Cayman Islands free companies from the minimum amount of shareholding capital.
You only need have a registered office and a registered agent. A company can be set up with a minimum of one shareholder and one Director. Companies can carry out business outside the Cayman Islands, and only an annual return of its business needs to be filed. This is light and uncomplicated, and does not require an audit of the company to be carried out as part of the return filing process.
How to set up a company in the Cayman Islands
*The name of your company can be in English or Chinese.
A business setup consultant with experience in Cayman Islands offshore company formation can be of assistance, helping you at every step of the process. It may also be possible to purchase a shelf company, that is one which has already been incorporated.
At A&A Associate LLC, our business setup experts work closely with our legal team and our panel of financial experts to ensure that all the paperwork is in order. We can advise you on the right company structure for your business, depending on your needs. We do all that is required when it comes to registering your company in the Cayman Islands and getting a license to do business, so that you need not worry about anything.