COMPANY FORMATION CAYMAN ISLANDS
The Cayman Islands are the Overseas Territory of Great Britain and are located in the Caribbean Sea. The territory of the Cayman Islands consists of three parts. These are the islands of Grand Cayman, Cayman-Brac, and also Little Cayman.
The neighboring countries are such as Cuba (in the north), Mexico (in the west), and the Cayman Islands border with Belize, Guatemala and Honduras in the south-west, and Jamaica – in the southeast.
The basis of the state structure of the Cayman Islands is the principles of parliamentary democracy. The British Queen is the official head of state.
The administration of the islands is carried out by the appointed governor, who is elected for the term of four years.
Approximately 54 thousand people reside in the Cayman Islands.
Throughout the world, the Cayman Islands nowadays have the reputation of thriving offshore financial center. Several tens of thousands of companies are already registered on the islands. The banking sector is also developed (there are about 500 established banks). Offshore registration in the Cayman Islands is real opportunity to conduct and develop legitimate and profitable international business. Business in the Cayman Islands is gaining popularity.
WHY REGISTER COMPANY IN CAYMAN ISLANDS?
- unique conditions for the development of tourism (prolific climate,
- beautiful reefs, tropical thickets);
- extremely low crime rate;
- modern developed infrastructure;
- low taxes;
- political stability.
FEATURES OF OFFSHORE COMPANY IN THE CAYMAN ISLANDS
- Any legal activity is allowed. Banking, insurance or reinsurance, and trust spheres of activities are subject to special licensing;
- Registration of the company in the Cayman Islands takes about 48 hours after submission of all required documents;
- The name of the company shall be unique and cannot be identical or similar to those already existing names. Registration of the name can be carried out in any language, but translation into English is required;
- Registration of offshore company in the Cayman Islands is carried out upon the availability of the following documents:
– Memorandum of Establishment.
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