What Encourages Investors to Start Their Business in the Cayman Islands?
- Ease of setting up a company in the Cayman Islands, as it does not take much time to complete the procedures.
- Company establishment fees are relatively low.
- Economic stability in the country and the stability of exchange rates.
- There is a flexibility in some procedures for establishing a company. For example, company directors and officials do not have to be residents in the country.
- There is no need for an annual shareholder meeting.
- There is no minimum capital required.
- Cayman Islands laws allow the company to merge with other companies, whether in the Cayman Islands or in other countries.
- The company can be created with one manager and one partner.
Also read: A Simplified Definition of Commercial Law
What Are the Types of Companies in the Cayman Islands?
It is suitable for international trade but cannot do business inside the Cayman Islands.
The Non-Resident Company
It could be a substitute for an exempted company and has similar incorporation conditions.
Limited Exempted Company
Its creation requires one joint partner and one limited partner, and the joint partner must be residing in the Cayman Islands.
In order to Start the Company in the Cayman Islands, the Following Documents Must be Brought
- Certified copies of company documents.
- Certificate of incorporation or other contracts that form or define the constitution of the foreign company.
- The name and address of each manager.
- The name and address of one or more persons residing in the Cayman Islands that are authorized things on behalf of the company.