Registering a Company in the Cayman Islands
1. Advantages of Registering a Company in the Cayman Islands
(1) Tax neutrality- there are no corporation, capital gains, payroll, property or withholding taxes on any type of company, domestic or foreign.
(2) There are no additional regulations restricting trade development.
(3) Funds can be flexibly mobilized without foreign exchange controls.
(4) The company names don’t have to be ended by the word "LIMITED".
(5) Privacy- except where assistance to law enforcement agencies to combat illicit activity is mandated or authorized, disclosure of information by government officials, professional agents, attorneys and accountants and their staffs is prohibited.
2. Legal Requirements to Register Cayman Companies
(1) The Cayman Islands Government has no restrictions on the registered capital of its offshore companies, but generally the minimum registered capital is $50,000. The capital can be divided into 50,000 shares and $1.00 per share.
(2) At least one shareholder is required, who may be a natural or legal person without nationality restrictions. Offshore companies in the Cayman Islands can choose to issue registered or unregistered shares.
(3) At least one director is required, who can be legal or natural persons without nationality restrictions on nationality.
(4) The registered office must be located in the Cayman Islands.
(5) There are no special requirements for the company name. The company name cannot appear such words as BANK, TRUST, MUTUAL FUND, INSURANCE, or REINSURANCE without permission.
(6) Free tax declaration, except for the annual license fee.
(7) Overseas companies registered in the Cayman Islands enjoy a high degree of confidentiality and the company's shareholders will not be open to the public.
(8) Registered agent: A Cayman company or individual (with Cayman residency status) must be appointed as a registered agent.
3. Documents Required to Register Cayman Companies
(1) The basic information of the company's directors and shareholders, including the address, nationality, and a copy of the passport, accompanied by a notarized public certificate issued by the local notary office, as well as originals in English and Chinese.
(2) The address certificate of the company's directors and shareholders (if the address provided by the customer matches the address on the document provided, the certificate may be waived)
(3) Originals of bank consultation letter or professional consultation letter or original deposit certificate of directors and shareholders of the company
Lists of Documents for the Companies in Cayman Islands
(1) Subscriber's Resolutions;
(2) Resolutions of the First Director;
(3) Resolutions of the Sole Director of the Company;
(4) Share Transfer;
(5) Original copy of Certificate of Incorporation;
(6) A stamped Memorandum and Articles of Association ("M&A");
(7) Copies of M&A ;
(8) Register of Members, Directors, Officers, Transfers and Changes;
(9) A booklet of share certificates;
(10) Company seal and chop