The Cayman Islands is a self-governing British Overseas Territory which situated in the Western Caribbean Sea approximately 500 miles south of Miami, Florida, with a population of approximately 50,000 people of mixed origin. It comprises three islands of Grand Cayman, Cayman Brac and Little Cayman. Cayman Islands have wonderful corporate laws which can be seen in the fact that there are over 36,000 companies registered there. The economy in Cayman Islands is based on the tourism sector and the international financial centre. The territory is politically, socially and economically very stable.

• Conduct business within Cayman Islands.
• The name of company must end with suffix “Ltd” or “Limited”.
• Not suitable for international’s trade and business.
• Must held an Annual General Meeting (AGM).
• Must keep the register of members at the registered office for public inspection.
• Requires licensing and annual submission of a list of shareholders.
• Must file the list of shareholders of the company with the Registrar of Companies in January each year.
• Allows issue shares at par value or at a premium.

• Prohibited from trading in the Cayman Islands.
• Allows to enter into contracts in the Cayman Islands to carry on its business outside the Cayman Islands.
• Granted a certificate of non-resident by Financial Secretary if the company does not intend to trade in Cayman Islands.
• Company name must consist of “LTD” or “Limited”.
• Can apply to convert to Exempted Company.
• Held an AGM of its shareholders in Cayman each year within Cayman Islands.
• Allows to issue shares at par value or at a premium.
• Not allowed to issue bearer share.

• Prohibited from trading in the Cayman Islands.
• Not suitable for international trade and business.
• Not suitable for international’s trade and business.
• The name of company is not required to have the words “LTD” or “Limited”.
• Allows to issue shares without nominal or par value as permitted by Laws.
• Issue bearer shares are allowed by the Law but it requires to hold by an authorised custodian with Cayman Islands.
• Not required to hold an AGM and shareholders’ meeting in Cayman Islands.
• No minimum share capital is required and can be expressed in any currency.

The company must have at least one director and one shareholder. Both director and shareholder of the Company must be a natural person or a corporate body. There is no provision requirement of appointing local director and shareholder. Therefore the director and shareholder can be of any nationality and need not be Cayman Islands resident.

It is not mandatory for the company to appoint a company secretary. In view that, the Companies Law of Cayman is more stringent than many other jurisdictions, we recommend that our firm be appointed as the Company Secretary to ensure that the company complies with all statutory requirements.

A Cayman exempt company must at all times have a registered office located within Cayman, which is normally provided by a Cayman management company, law firm, accountancy practice or trust company. A Cayman exempt company can resolve to change the location of the registered office at any time.

The Registrar is only allowed to release the name of the company and the location of the registered office. No public records is maintained of the names of shareholders or directors of a company registered in the Cayman Islands.

The name and address of each Director and Officer is required to be filed but is not available for public inspection.

If you are interested in setting up Cayman Island offshore companies, contact us today!