For starters, the law in CAYMAN ISLANDS is common law law. Common law jurisdictions are generally regarded as easier to structure. One is permitted to electronically sign documents.
The letters KY is for CAYMAN ISLANDS and the most common company structure in CAYMAN ISLANDS is a Tax Exempt Ltd.
The time to setup is usually 3-4 days to setup a Tax Exempt Ltd in KY. The minimum share cap is 0, This means you don't have any minimum share capital. The types of consideration you can use to capitalize your company is most commonly any legal currency.
Yes, one is allowed to re-domicile a Tax Exempt Ltd from KY. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a Tax Exempt Ltd in KY by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is permitted, up to 100% of the ownership of the Tax Exempt Ltd.
A Tax Exempt Ltd is only required to have one director. Furthermore, corporate directors are permitted. Directors should not expect to be private, as they are disclosed.
A registered office is a requirement, whom the company will pay yearly, for a legal services company which can receive a service of process on behalf of the company. However, a corporate secretary is not always necessary, at least not by law.
There is an obligation to file yearly tax returns. Consequently, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Cayman Islands, General Registry
. Shareholders are not disclosed in the General Registry
Typically companies take 3-4 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Cayman Islands is a good option and have given it a score of 90 as an IO score, using the Incorporations.IO proprietary formula.
3-4 daysto form