Cayman Islands Company Formation
Since 1974, International Management Services Ltd has been assisting its clients with Cayman Island company formation and company management. We have developed a wealth of knowledge and leading expertise in this area and leverage this to the benefit of our clients’ needs on a daily basis. We currently provide services to in excess of 1000 individual client companies, many of which have been with us since we started!
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Key Features of Cayman Island Companies
The Cayman Islands has a robust and efficient regulatory framework, based on English common law, allowing for the incorporation and ongoing management of companies, with very few limitations in what activities the company can undertake. Many of the companies registered with the Cayman Islands company registry are investment holding vehicles, sales distribution companies or even subsidiaries of foreign parents. The regularity framework has been streamlined so as to allow a company to be fully operational within 48 hours of receiving instruction (provided all regulatory and compliance requirements have been met).
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Just about any type of asset can be acquired and held by a Cayman corporation. For instance:
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Fixed Term Deposits
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Listed Stocks and Securities
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Stock in Private Companies
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Real Estate and Commissions
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Patents, Royalty Agreements and Contract Rights
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Sea Going Vessels and Aircraft.
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Typical corporate requirements/features to register your company with the Cayman Islands business registry include:
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Nil corporate taxation
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Minimum authorised share capital – US$50,000
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Minimum paid-up capital – US$1
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Minimum number of Directors – 1 (does not have to be local)
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Annual Filing of Company Return
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No requirement for annual audits.
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Location of meetings – anywhere
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Contact us at contactus@ims.ky or click on the links on this page to find out more on the Cayman Islands corporate registry and the formation of Cayman companies.
Company Formation
In over 35 years of operation, IMS has formed thousands of companies on behalf of its clients. IMS has developed procedures and processes which enable it to arrange the registration of a Cayman company within 48 hours of receiving instructions provided all regulatory and compliance requirements are met. Our extensive expertise in incorporating a company in the Cayman Islands not only enables us to advise clients on the type of company which will meet their needs but also ensures that the formation process is quick and in full compliance with all regulations.
The three types of most commonly registered companies in Cayman under the Companies Law are the Ordinary Resident Company, Ordinary Non-Resident Company, and the Exempted Company.
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1. An ordinary resident company is usually formed for the purposes of carrying on local business in the Cayman Islands. In addition to the Companies Law, it is subject to the terms of the Local Companies (Control) Law 1995 which requires licensing, and the annual submission of a list of shareholders. Registration fees are payable annually and on incorporation in Cayman.
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2. An ordinary non-resident company is subject to the same rules as a resident company, but must not conduct any business within the islands. This form, or that of the exempt company, is the usual choice for offshore operations. The Financial Secretary will grant a certificate of non-residence if he is satisfied that the company does not and does not intend to trade onshore. The company is then relieved of the licensing requirement.
Records of members, directors, mortgages and charges must be kept. Financial records must be maintained although no audit is necessary and there are no filing requirements.
Ordinary non-resident companies can apply to convert to exempted companies.
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3. A Cayman Islands Exempt Company differs from a non-resident company in the following ways
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An exempted Caymans company does not have to use Ltd or Limited in its name;
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it may issue bearer shares in addition to registered shares, but they must be held by an authorized depositary;
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it need not file a list of shareholders annually, and does not even have to keep such a list;
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it may obtain a Certificate of Tax Exemption (ie against any future Cayman taxation)
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An exempted company is the typical form of choice for investment vehicles.
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To find out more about the Cayman Island Company Formation, including details of applicable fees and how IMS can leverage its expertise to your advantage, please email us at contactus@ims.ky.
Registered Office
Under the Companies Law all Cayman Islands companies must maintain a physical presence on the Islands via a registered office. At IMS we view this an integral part in the efficient and effective administration of a Cayman Company and as a consequence we have built up an experienced team of Corporate Administrators who are able to provide the highest level of service to our clients. As registered office we typically provide the following:
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Provision of a Cayman Islands mailing address and a mail forwarding service
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Submission of the company annual return to the Cayman Islands Registrar.
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Maintenance of the statutory records of the company including the Register of Directors, the Register of Members and the Register of Mortgages & Charges.
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Provision of ad-hoc services as requested from time to time by our clients, such as the provision of tax certificates or certificates of good standing.
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The display of the company name (as required by law)
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At IMS we realise that the efficient management of Registered Office can play an important role in a company fulfilling its obligations and requests from third parties, therefore we take a very client focused approach particularly in the turnaround of information. Reliability and responsiveness are core attributes of all our Corporate Administrators, and from our experience our clients notice this as a key difference over any of our competitors.
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To find out more about the provision of registered office of Cayman Companies, including details of applicable fees and how IMS can leverage its expertise to your advantage please email us at contactus@ims.ky.
Management Services
To complement the provision of registered office services we also offer our clients the full spectrum of company management services. This can play an important role in establishing the ‘mind and management’ of a company in the Cayman Islands. Many clients prefer this service as it allows them to concentrate on the growth aspects of their business whilst IMS takes care of all the administrative requirements. This may include but is not limited to:
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The provision of Directors
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Secretarial Services
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The provision of Nominee Shareholders
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Preparation of financial accounts and assistance with the audit process if required
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Introduction and liaison with banking, legal, tax and accounting professional from our vast network of professional contacts
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In recognition of the responsibly that this service entails we ensure that only professionally qualified staff are assigned to client engagements. Over the years we have built up a respected team of individuals who understand the importance and benefit that this service provides our clients. The combination of our extensive knowledge and expertise in this area and our key attributes of reliability and responsiveness ensure that clients receive first class service.
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To find out more about full management services to Cayman Companies, including details of applicable fees and how IMS can leverage its expertise to your advantage please email us at contactus@ims.ky.
Intermediaries
Cost Effective and Fast Track Company Formation Services for Intermediaries
Corporate Filing Services Ltd is an associated company of International Management Services Ltd. It was formed to provide a superior and cost effective company formation and administration service for professional intermediaries, law firms, accounting firms and corporate service companies providing corporate services on a global basis. Our services are specifically tailored for the busy professional where costs and efficiency are of the utmost importance. For example Cayman companies can be formed for eligible introducers within 24 hours!
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Services
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company formation
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provision of registered office
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filing of statutory documents
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legalisation of documents
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company searches
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certificates of good standing
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all other statutory corporate services
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Direct contact with us means you get a quick, efficient and cost effective service . Not quite sure what you want? We can help you make up your mind and attorneys, accountants and other professionals are available if you have more complex matters to discuss. Please contact us for further information at contactus@ims.ky.