WHY you should register an offshore company in Cayman Islands?
CAYMAN ISLAND is known as a major
world offshore financial haven (tax free) for international businesses and many
wealthy individuals who wishes to open or start a business. It is often used
for international investment purposes and fund management because of the
stability of the political situation and no foreign exchange restrictions. It
is very popular as more than 100,000 companies are currently registered in
Because once you have registered a
company in Cayman Island, you can operate your business worldwide. Did you know
that there are no withholding taxes or inheritance taxes in Cayman Islands?
Meaning it is tax FREE. NO personal, corporate or estate taxes.
Which is why Cayman Islands is IDEAL for the purpose of mitigating tax exposure and once you've open an account in Cayman Islands, there's no requirements for annual meetings or audits. In short, any foreigner (anyone) can own a non-resident company in Cayman Islands.
Cayman Islands is the fourth largest offshore financial centre in the world.
1. TAX FREE - As long as your company is registered in Cayman Islands that perform offshore operations, you do not have to declare or pay taxes. Imagine not having to pay for income taxes, sales or capital gains. Not only it'll saves you a lot of money. It is also hassle free. Because in Cayman Islands they do not impose in any types of taxes on it's citizens, resident or foreign owned companies. Because Cayman Islands is a white listed country as they follow the international tax regulation. So this kept them from being black listed or be put under suspicions by the International Financial Action Task Force and especially the organisation for Economic Co-Operation and Development (OECD).
2. CAPITAL REGISTRATION - There's no limit of capital registered by offshore companies. There's also no annual accounting or auditing requirements. Did you know that having an offshore company allows you to use anything from shipping operations or stock dealing etc.? Also, the share capital can be in any currency.
3. NO DECLARATIONS - of your beneficiaries, annual profits and financial statements. Meaning You don't have to show or submit any of your financial statements as long as your company is registered in Cayman Islands. How great is that? It also means that you can own the entire company! You don't even have to open a bank account in Cayman Islands.
4. TRANSFERS SHARES - You can transfer all of your shares easily and quickly. Because it is flexible and free, you can conduct your operations and transfer money internationally (inbound or outbound) in any currency or amount that you prefer. As the government has no regulations or limitations regarding the money or currency transfer. Example: You can transfer money from the corporation to a third party and there will be no tax or duty stamps. Unless it is from a real estate investment related. Otherwise you are good to go!
5. PRIVACY - Another point why businessman/woman chose to establish their offshore company in Cayman Islands is because of the anonymity which simply means your privacy is protected. You won't have to show your name, registered office and company type & status until you register your company on that certain date. Disclosing any kind of information in Cayman Island is prohibited and not allowed. Unless it is requested by the law of the enforcement agency. Best part is that the public records in Cayman Islands do not contain the owner, registered shareholders and directors name. Which means all the accounts at this company will remain private in this jurisdiction.
6. PUBLICLY LISTED - Once you've open an offshore company in Cayman Islands. Your company can be listed in various countries in other countries such as Hong Kong, USA and Singapore. You can also merge with other companies in Cayman Islands or in other countries, if you wish to do so!
7. STABLE ECONOMY - Cayman Islands economy has always been stable and remained strong because of its popular offshore corporations, banking system and tourism. As well as the politics and training because of the law system in Cayman Islands.
8. FAST PROCESSING - It only takes 2-3 weeks to process your application. it is simple, quick and easy. There's an express package where you can register your company within 48 hours. The standard processing takes 1 week tops. If you provide the correct documents. Because there's no requirement for the government of Cayman Islands for the regulatory authority approval. The annual fees and registration are also low compared to other jurisdictions.
1. SHARE HOLDER & COMPANY DIRECTOR - You must at least have one shareholder and company director (can be the same person) in the company. There's no strict requirements on the nationality of the shareholder/director. There's also no restriction on the residency of the director. You are not required to hire any resident director or secretaries based in Cayman Islands.
2. REGISTRATION DOCUMENTS - You must provide all the correct documents such as proof of address and identity. It must be verified by the relevant authorities before submission of your application such as; local anti-money laundering legislation and the prevention of terrorism laws etc. The registered capital that you will use for the registration doesn't need to be verified. You also do not need to submit your financial statements to the government when registering for a company in Cayman Islands.
3. PROOF OF ADDRESS - You must provide your registered address of your company in Cayman Islands. Because it is a must to have a local register office address and you need to appoint a local registered agent.
4. DOCUMENTS - Once you've opened an offshore account in Cayman Islands. Your company records may be kept outside of the islands. You must also maintain your accounting records. The government does not require any minimum accounting standards or practices.
1. EXEMPT COMPANY - This is the most popular or commonly used in Cayman Islands. It is for those who wish to conduct their business outside Cayman Islands. Because of the transactions as it is efficient and cost effective for tax purposes. There's also NO restriction on the nationality for the shareholders and directors. Also, an exempted company is not required to hold an annual shareholders meetings. You do not need to include the words "limited" or "LTD" on the name of your exempted company. Did you know that you can obtain the TAX exemption certificate - 20 years TAX FREE? So, that if ever Cayman Islands decided to introduce tax, your company may be protected and will be exempted for 20 years. This is only an insurance for you. So, that whatever happens in 20 years time you will be secured and guaranteed to have a 20 years TAX FREE status.
ADVANTAGES of EXEMPT COMPANY
- 100% Foreign owners
- Limited liability
- No taxation
- One shareholder/director
- No required meetings
- No audits
2. CAYMAN LCC - If you wish to be listed under Cayman LLC, the activities of your company can be carried out mainly outside Cayman Islands. The owner/registrants can register as a Limited Liability Company (LLC) which is under the Limited Liability Companies Law. Which means that, it can be separated the legal identity of the members of the company and cannot be held personally responsible for the company's debt or liabilities. LLC has no share in capital but the members will acquire the LLC interests. You must sign a registration statement that contains a certain information and payment fee in order for you to register an LLC company.
3. ORDINARY RESIDENT COMPANY - This is chosen for the purpose of carrying on a local business. Under the companies law and the terms of the local companies control law in 1995, you are required to have a license and annual submission of a list of your shareholders. You are also allowed to share your shares. Also, you are required to have an annual meetings and be open to public inspection. You also need to indicate the "Limited" or "LTD" in the end of your company name. The shareholders of the company must be filed with the Registrar of companies each year, January to the immigration board.
1. Corporate application/questionnaire
2. Proposed director/shareholder (Ultimate Beneficiary Owner (UBO)
3. Certified copy of you passport
4. Certified copy of your driver’s licence
5. Certified copy of your utility bills to shoe your current residential address (past 3 months)
6. Original paper of your Professional Reference Letter addressed to HSM Corporate Services Ltd.
7. Original paper of your Personal Reference Letter addressed to HSM Corporate Services Ltd.
8. Original paper of your Bank Reference Letter addressed to HSM Corporate Services Ltd.
9. Your Resume/CV
What's the difference between Cayman Islands and British Virgin Islands (BVI)?
What Globevisa Group can offer?
Globevisa Group has been recognised everywhere and received some of the most prestigious awards in the world because of the excellent service we provide. As of 2018, we currently have 36 branches all over the world. Globevisa Group offers a free consultation and guidance to all of our clients needs.
Globevisa Group provides a professional service with a high quality experience for our clients and has over 20 years experience. So, we can assure you that we can process your application properly and provide you or your family a professional guidance. As we provide after services. So, we will be with you every step of the way.
Globevisa Group offers over a 100 programs for all of our clients. With a successful rate of 95%. Because of this success and positive feedbacks from our clients all over the world. We were able to expand and set up 14 registered branches around the world; Hong Kong, London, Singapore, Melbourne, Vancouver, Toronto, Silicon Valley, Thailand, Malaysia, Turkey, Philippines, Cyprus, South Korea and India.
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