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Cayman Island Offshore Company Registration - Business Setup

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5 simple steps are needed to register an offshore company in the Cayman Island

 
 
Upload your documents
Your account manager will ask you for official documents which are required for your company formation.
 
Register your company successfully
Once your documents have been processed your company will be successfully registered.
 
Process any additional services
Your account manager will guide you through the steps of completing your request of additional services such as bank accounts.
 
Manage Your company via our client portal
Our client portal will give you immediate access to all your documents as well as display your company structure.
 
 

Banking Options

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Cayman Island Offshore Company Formation

Good to Know
Cayman Island companies are not subject to any form of direct taxation in the Cayman Islands. The Exempt Company may additionally benefit from a tax exemption certificate granted for a period up to 20 years as a safeguard against the local system of company taxation.

Main Characteristics of a Cayman Island Offshore Company

Company type
Limited Company registered under the Exempted status.
Governing corporate legislation
The Cayman Islands Monetary Authority is the governing authority and companies are regulated under The Companies Law (2016 Revision).
Information published relating to company officers
There is no public register of company officers.
Accounting requirement
No auditing / reporting requirements.
However, under section 59 of the Companies Law, a company is required to keep books of account which give a true and correct view of its affairs, including, where applicable, material underlying documentation including contracts and invoices.
Taxation
No local taxation however, companies which are not “tax resident” outside of the Cayman Islands and which conduct a Relevant Activity must meet substance requirements under Cayman’s Economic Substance Law or face important penalties.
Legislation
Modern offshore legislation.
Standard currency
US$
Time to form
The Cayman island has a fast and efficient registry: it takes about 2 to 3 working days to register a company (upon validation of your identification documents).
Stability
Stable jurisdiction with a very good reputation.
Communication
Efficient communication means.
Time zone
Convenient world time zone: GMT-5
Secretary required
No
Paid up capital requirement
No paid-up capital requirement. The standard share capital is USD 50,000 but can be amended to fit your requirements.
Renewal Date
Anniversary date of the company / Each Year
Basis of legal System
Under Common Law.
Minimum directors/shareholders
Minimum of 1 director/shareholder
Bearer shares
Bearer shares are not permitted.

Documents Required

for the Creation of a Cayman Island Company

A certified copy Certification of a passport can be made by a notary, an attorney-at-law, a bank, a public officer, or in accordance with SFM indications. Kindly consult your dedicated account manager at SFM to obtain precise information. of your passport (specific wording required), a certified copy of proof of domicile dated less than three months (specific wording required), a curriculum vitae, as well as last 3 months' bank statement. All in original.**






Frequently Asked Questions

Offshore Company Formation in Cayman Islands

  • What type of company do you register in the Cayman Islands?

    The type of company that we form in the Cayman Islands is known as Exempted Companies, commonly known as offshore companies, and are regulated under The Companies Law (2020 Revision). An Exempt Company is a company that is registered in the Cayman Islands and conducts its business activity purely outside the island.
  • Is a Cayman Islands Offshore Company (Exempt Company) tax liable?

    No, Exempt Companies formed in the Cayman Islands are exempt from any form of taxation in the Cayman Islands as long as the Exempt Company does not conduct its business in the Cayman Islands.

    While the company may not be liable to pay taxes, please consult with a tax/legal advisor in your country of residence, to determine your own tax liability.
  • Will my name be public once I setup a company in the Cayman Islands?

    No, there is no public register of company officers in the Cayman Islands.
  • How many directors and shareholders should I appoint to my Cayman Exempt Company?

    A minimum of 1 director and 1 shareholder should be appointed to setup an Exempt Company in the Cayman Islands.
  •  
  • Do I need to submit accounting records for my Offshore Company (Exempt Company) in the Cayman Islands?

    No accounting/reporting requirements.

    However, the section 59 of the Companies Law requires the company to keep all financial records, which should reflect the financial position of a company and to allow for the preparation of financial statements.
  • Will my liability be limited if I register my company as an Exempt Company in the Cayman Islands?

    The shareholders’ liability in an Exempt Company is typically limited to the amount of shares respectively held by them.
  • Do I need to deposit the paid up capital for a Cayman Exempt Company?

    No, there is no paid up capital requirement. The standard share capital is USD 50,000 but can be amended to fit your requirements.
  • Are bearer shares allowed in the Cayman Islands?

    No, bearer shares are not allowed in the Cayman Islands and tend to disappear from most jurisdictions.


Cayman Island Offshore Jurisdiction News


“No Further AML-CFT Measures Required for Cayman Islands” – New EU Report

24 June 2022
According to a recent report, the European Union is satisfied that no further measures will be required beyond those already made in their Cayman Islands action plan for the Financial Action Task Force[..]
Continue reading

Increase In Offshore Companies Seeking Safer Havens

25 February 2020
2019 was a volatile year – Hong Kong protests[..]
Continue reading
* Subject to the constraints of the due diligence procedure.
** Documents must be provided for every person related to the company.
Disclaimer: Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.

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04-Apr-2021
Mrs. Andeea Daescu helped me quickly organise my working process and deliver the project as soon as possible. Showed excellent skills as Client Relationship Manager and communicator. Highly recommend Andreea. Communication, deadlines all met and Andreea is very professional. Splendid attitude to work.
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