#CorporateservicesCaymanIslands

[arkacayman]

Why You Should Engage a Corporate Service Provider for your Cayman Company

Hiring a professional corporate services provider in the Cayman Islands saves time, ensures compliance and gives you peace of mind, allowing you to focus on your core business.

Setting up and managing a company can be challenging. Setting up and managing a company in the Cayman Islands is not necessarily more challenging, but you’ll need a local specialist partner who understands the steps you need to take and who makes your needs a priority.

Private and institutional investors are attracted to the Cayman Islands because of its professional infrastructure, business-friendly approach, flexibility, an English common law framework, stability, well-regulated regime, and tax-neutrality. It is home to many of the world’s top professionals in the areas of law, accountancy, corporate services, and investment expertise.

And, of course, the jurisdiction has no direct personal, corporate or property taxes.

A Cayman Islands company is used for a variety of purposes, including structured financing, trading, shipping, and others and is well regarded internationally as a quality product. The Cayman Islands corporate law has a strong emphasis on reputable parties and a high level of professionalism.

A unique feature of the Cayman Islands companies law is the regulation of entities that incorporate or provide corporate services to the Cayman Islands companies. Providers must be licensed under the Companies Management Law and are regulated by the Cayman Islands Monetary Authority.

A corporate service provider works alongside the professionals who provide you tax and legal advice in the Cayman Islands to keep your company in good legal standing in accordance with relevant global and local legislation. You’ll also have the support of a dedicated team of skilled and experienced professionals, with a single point of contact responsible for the day-to-day handling of your business.

Corporate service providers assist in the establishment of all types of Cayman companies for local, offshore or Special Economic Zone purposes, and advise on structuring/licensing for all forms of business and investment funds. They save time, have expert compliance knowledge, provide one-stop service, professional support, and have transparent pricing.

Corporate Services in the Cayman Islands include the provision of a registered office, maintenance of statutory registers; handling of annual returns; drafting resolutions and minutes; providing certified documents; getting documents apostilled and notarised; updating the register of officers, shareholders and directors; maintaining the minute book; assisting with corporate restructuring; and revisions to the Memorandum of Understanding and Articles of Association. Some also provide director services.

Fees vary but expect to pay between US$750 and US$1,750, excluding Government filing fees, to get you through the incorporation process. Companies can be set up in the Cayman Islands quickly and efficiently. A company can be formed within 24 hours, with a subscriber meeting being held and the company’s directors appointed.

The last three decades have seen the Cayman Islands emerge as a jurisdiction of choice for those looking for an offshore location from which to conduct international business. Setting up and managing a Cayman Islands business with a professional corporate service provider ensures your company can take full advantage of the jurisdiction’s tax neutral status, economic and political stability, good communications, professional banking facilities, and sophisticated corporate legislation.

Original Article: https://medium.com/@arkacayman/why-you-should-engage-a-corporate-service-provider-for-your-cayman-company-c6f8aba6cd0c 

[hcsoffshore1111]

Your Simple Guide to Offshore Company Formation in the Cayman Islands

Setting up an offshore company in the Cayman Islands is simple, inexpensive and offers a wealth of advantages to your international business.

In order to attract businesses and investors to its Caribbean shores, the Cayman Islands has a tax-neutral approach, meaning it generates all its revenue through indirect means such as customs duties and stamp duty on land and property transfers. It levies no taxes whatsoever on income, capital, capital gains or sales. There are no withholding taxes, no taxes on inheritance and no currency exchange controls. 

This makes the Cayman Islands an extremely popular place to set up an offshore company and the “exempted company” is the category generally referred to when discussing offshore company formation in this jurisdiction.

An exempted company is one whose business is conducted mainly outside the Cayman Islands. The advantages of this type of company over ordinary (non-resident) companies are that it allows international investors to trade across international borders with ease while enjoying minimal exposure to taxes and other duties.

While offshore company registration in the Cayman Islands is not very complicated, it does require the services of a registered agent who specializes in incorporating offshore companies. Registered agents are professionals such as lawyers, offshore service providers and experts in international finance.

Exempted companies offer their shareholders and officers a large degree of anonymity. The names of shareholders of an exempted company are not required to be filed with the Registrar of Companies. The company must have a minimum of one director and one shareholder. The shareholder and director can be the same person, can be a corporate body and can be of any nationality.

A 20-year guarantee (in the form of a Tax Exemption Certificate) from the Cayman Islands government ensures that an exempted company will not be subject to taxation for 20 years from formation, even though there are presently no taxes in the Cayman Islands and no plans to introduce them.

While the names of directors and officers must be submitted to the Registrar of Companies, the Cayman Islands company formation documents do not carry the name or identity of the shareholder(s) and they are not available to the public.

Annual reporting requirements are minimal and consist only of a confirmation that operations have been carried out mainly outside of the Cayman Islands. There is no obligation to prepare annual financial statements and accounts for presentation or inspection by the government. Shareholder and directors meetings can be held at any time and location that is convenient, even by telephone.

The entity can be run from anywhere in the world.

Shares can be issued with or without par value; The minimum is US$1, but most companies of this type are set up with an authorized share capital of US$50,000 divided into 50,000 common voting shares of US$1. This is the most number of shares possible with the minimum capital duty payable to the Registrar of Companies. The minimum issued share capital is one share of no par value or one share of part value.

The Cayman Islands company registry can be completed very quickly if the paperwork and due diligence are in order. Cayman Islands law requires an agency that provides company formation services to conduct due diligence to “know the client” and know the proposed activities of any exempted company it sets up on behalf of a client.

It usually takes no more than a week to have the completed papers returned from the Registrar of Companies. There is also an express service where documents can be processed faster (even the same day) at an additional cost.

Once you feel you understand some of the requirements and advantages you should be ready to talk to a registered Cayman Islands corporate service provider for your offshore company formation. Look for a company that has established local affiliations as well as extensive knowledge of the legal requirements for company formation in the Cayman Islands. There are many to choose from and you can rest assured that the Cayman Islands’ reputation for providing well-regulated and sophisticated legal, accounting and banking services, as well as excellent political stability, is well deserved.

Original Article Source: https://medium.com/@caymanislandsinfo/your-simple-guide-to-offshore-company-formation-in-the-cayman-islands-f4ce98301541