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Cayman Islands Company Formation Frequently asked questions (FAQs)

1. How long will it take to incorporate an exempted company?
After fulfilling the requirements of The Compliance. An exempted company is incorporated upon filing incorporation documents with the Registrar of Companies. A Certificate of Incorporation will be issued by the Registrar of Companies within 4-6 working days after filing.
2. What is the advantage of registering in Cayman as opposed to another jurisdiction, for example BVI/Belize/Seychelles
The Cayman Islands has an edge in terms of industry perception. There is a wealth of experience among local professional firms. The maturity of the jurisdiction is such that you are guaranteed find the skill and know-how for most financial business operations.
3. What are the requirements for Knowing-Your-Customers (KYC) documents?

For entities, certified copies of charter documents and registers (where applicable) are required. For individuals, identity certification, address proof and a reference letter from a recognized professional are required as following:

  • A passport or utility bill can be certified by a lawyer, or notarized by Notary Public.
  • A recent English utility bill issued within the last 3 months or a bank statement are acceptable as address proof. If It's not in English, a certified translation will be required
  • A reference letter can be issued by a professional (such as a lawyer, a CPA, a banker) The referee must have known the person who is the subject of the reference for at least two (2) years.
4. Will the information of the company will be publicized?
The information of Beneficial Owner of the company must be disclosed to The Registrar but it definitely not be published. There is no person can find your confidential information.
5. Is Cayman Islands a tax free country?
The Cayman Island operate an alternative tax regime. There is no income tax, company or corporation tax, inheritance tax, capital gains or gift tax in the Cayman Islands.
6. Does such a company need to have local directors or shareholders?
It is not necessary to have local directors and shareholders for setting up a Cayman Islands exempted company. The entity should have at least one director in the company
7. Any requirements about accounting and auditing for Cayman Islands company?
Annual returns should be filed yearly in the Cayman Islands. However, there is no requirement for corporations to submit financial records when filing annual returns. However, there is no requirement for corporations to submit financial records when filing annual returns.
8. Do I have to pay the share capital to set up a company?
The usual authorized share capital is US$ 50000 with par value US$ 1. There is no minimum paid up required to set up the company.
9. When I need to pay the annual fee for Cayman Islands company?
The renewal date of Cayman Islands company is 31 December
10. How much time it takes to close an exempted company in the Cayman Islands
A simple company termination can last two to three days to be completed.
11. Cayman Islands Offshore Company Formation - How it works?

How to Setup your Cayman Offshore Company?

Step 1 Cayman Offshore Company Formation, initially Our Relationship Managers team will ask You have to provide the detailed information of the Shareholder/Director's names and information. You can select level of services you need, normal with 5 working days or 3 working days in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in Cayman Registrar of Companies system.

Step 2 You settle the payment for Our Service fee and official Cayman Government Fee required. We accept payment by Credit/Debit Card Visa Visa Discover American , Paypal Paypal or Wire Transfer to our HSBC bank account HSBC bank account (Payment Guidelines).

Step 3 After collecting full information from you, Offshore Company Corp will send you a digital version (Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full Cayma Offshore Company kit will courier to your resident address by express (TNT, DHL or UPS etc.).

You can open bank account for your company in European, Hong Kong, Singapore or other jurisdictions supported offshore bank accounts! You are freedom international money transfer under your offshore company.

Your Cayman Company formation completed, ready to do international business!

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