Frequently Asked Questions about Cayman Islands

The following are some of the most frequently asked questions about Cayman Islands Company Formation:

How long does it take to incorporate a Cayman Islands company?

What are the problems of setting up a Cayman Islands company?

How difficult is it to open a corporate bank account for a Cayman Islands company?

Am I required to visit Cayman Islands to incorporate a company there?

What is the minimum number of directors required for a Cayman Islands company?

Is a resident director required?

What is the minimum number of shareholders required for a Cayman Islands company?

Can my company be 100% foreign-owned?

Are shareholder/director details available for public viewing?

What are the minimum capital requirements for a Cayman Islands company?

Is a Cayman Islands company required to submit an annual tax return and/or financial statements?

What are the tax implications of a Cayman Islands Company formation?

How long does it take to incorporate a Cayman Islands company?
Registering a Cayman Islands company can be completed within one week.

What are the problems of setting up a Cayman Islands company?
A Cayman Islands company is seen as an offshore tax haven and the company is not allowed to trade in Cayman Islands. Forming a company in an offshore tax haven may not be an advantage depending on your business.

How difficult is it to open a corporate bank account for a Cayman Islands company?
After the Cayman Islands company formation, opening a corporate bank account with a reputable international bank is easy.

Am I required to visit Cayman Islands to incorporate a company there?
No. Healy Consultants can legally incorporate your Cayman Islands company without you needing to travel.

What is the minimum number of directors required for a Cayman Islands company?
Under statutory regulations, a Cayman Islands company requires a minimum of one director.

Is a resident director required?
A Cayman Islands company does not require a resident director.

What is the minimum number of shareholders required for a Cayman Islands company?
A Cayman Islands company requires a minimum of one shareholder.

Can my company be 100% foreign-owned?
Yes.

Are shareholder/director details available for public viewing?
No.

What are the minimum capital requirements for a Cayman Islands company?
A Cayman Islands company does not require a minimum share capital to complete company formation.

Is a Cayman Islands company required to submit an annual tax return and/or financial statements?
A Cayman Islands company is not obliged to submit an annual tax return and/or financial statements. However, an annual return is required.

What are the tax implications of a Cayman Islands Company formation?
A Cayman Islands company does not have to pay corporation tax.

Contact Us

For further information on any of our Cayman Islands corporate services, email email@healyconsultants.com or telephone us at (+65) 6735 0120.

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