CAYMAN ISLANDS OFFSHORE INFORMATION

Well-established Caribbean jurisdiction with sophisticated legal and banking infrastructure. Can be expensive for non-trading companies. Very strict bank secrecy laws.

ADVANTAGES	One of the most well established of the Caribbean jurisdictions. Sophisticated legal and banking infrastructures
DISADVANTAGES	Expensive in terms of the Caribbean jurisdictions.
CORPORATE LEGISLATION SOURCE	The Companies Law (2004 Revision)
COMPANY STATUS	Non-Resident or Exempt Company
USUAL MINIMUM CAPITAL	Maximum capital for minimum fees Exempt - US$50,000 Non-Resident - US$50,000
COMPANY NAME	A Non-Resident Company must end with Limited or Ltd. An Exempt Company has a wider choice of suffixes eg Co, Inc, SA etc
TIME TAKEN TO INCORPORATE	3-5 days
ARE SHELF COMPANIES AVAILABLE	No
CAPITAL DUTY	Registration fee on Incorporation: Exempt - Minimum of US$575 Non-Resident - Minimum of US$488
MINIMUM NUMBER OF SHAREHOLDERS	One
ARE BEARER SHARES / SHARES OF NO PAR VALUE POSSIBLE?	Exempt - Yes but must be kept with a custodian Non-Resident - No / No
DIRECTORS: MINIMUM NUMBER / CORPORATE DIRECTORS ALLOWED / LOCATION	One / Yes / No restriction
SECRETARY: MANDATORY / CORPORATE SECRETARY ALLOWED / LOCATION	No / Yes / No restriction
IS THERE A REQUIREMENT FOR A REGISTERED OFFICE / REGISTERED AGENT	Yes / No
IS THERE A REQUIREMENT BY THE AUTHORITIES PRIOR TO INCORPORATION OR PRIOR TO TAX STATUS BEING GRANTED	Exempt - None Non-Resident - Undertaking required not to engage in local business
INFORMATION AVAILABLE ON PUBLIC FILE	Exempt - Registered Office / Memorandum & Articles of Association Non-Resident - Registered Office / Memorandum & Articles of Association / Shareholders details
DOCUMENTS TO BE KEPT AT REGISTERED OFFICE	Exempt -Register of Members / Directors / Mortgages & Charges Non-Resident - Register of Members / Directors / Mortgages & Charges
CORPORATE BOOKS AND SEAL	Both usually maintained
ACCOUNTS REQUIRED / FILED	No requirement for an audit, but books reflecting a true picture must be kept / No
ANNUAL RETURN REQUIRED	Exempt - Yes, but limited Non-Resident - Yes
WHERE ARE MEETINGS TO BE HELD	Exempt - Annual General Meetings are not required Non-Resident -AGM must be held. Place determined by directors
ANNUAL FEES PAYABLE TO THE GOVERNMENT: TAX / ANNUAL RETURN FILING FEE	Available on request
ARE THERE ANY EXCHANGE CONTROLS	No
DOUBLE TAX TREATIES	None
GOVERNMENT DUTIES PAYABLE	The company will be struck off in practice 3-4 years after default which is anytime after 31 December