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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.

· Legal Services

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.

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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.