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Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Cayman Islands
The Cayman Islands, in the western Caribbean Sea, is the second most populous British Overseas Territory. Therefore, the economy of the islands is growing substantially making it one of the pioneer financial centres. The country also has a high standard of living and various new opportunities for people willing to invest here. Well, if you’re planning for company incorporate in Cayman Islands, 3E Accounting is here to serve you.
We are also popular for offering great consultancy services to our clients according to their needs. Following are the various reasons for why you should get a company incorporated in the Cayman Islands:
The Cayman Islands are located near multiple countries like Cuba, Panama, Jamaica and Costa Rica. The numerous flights from the Cayman Islands make it easier for people to travel as well.
No direct taxation is imposed on Cayman Companies. There is also no tax on personal income, corporate profits or capital gains.
The official language of the Cayman Islands is English. Thus, it is convenient for new people to understand the procedure of company incorporate in Cayman Islands and complete all the legal formalities.
The Cayman Islands has well-developed support. George Town is the port capital of Cayman Islands. The three airports also function daily to provide connectivity to the major part of the world.
Various Business Entities in the Cayman Islands – Start to Get Your Company Incorporate in Cayman Islands
There are mainly two types of companies in the Cayman Islands:
Companies Formed Under Companies Law:
- Ordinary Resident Companies: The legal entity carrying out business in this location must have a registered office here and follow all the requirements mentioned by the law.
- The Ordinary Resident Companies: The legal entity carrying out business in this location must have a registered office here and follow all the requirements mentioned by the law.
- Ordinary Non-resident Companies: The Company is the same as Ordinary Resident companies but cannot perform the same business activities in the Cayman Islands. It must obtain a special certificate for the same.
- Exempted Companies: These are the most common offshore business structures. Such a company is not obliged to hold annual general meetings. Such companies can change their memorandum without any restriction by the law. The shareholders have limited liability, and such type of company requires no audits.
- Exempted Limited Duration Companies: This is a particular case of Exempt Companies where the memorandum of the company states the time duration for which the company is incorporated. This time should not exceed thirty years.
- Special Economic Zone Companies: The SEZ law applies solely to the Exempted Companies. Such companies do have a physical presence on the island, but their activities relate to foreign enterprises.
Limited Liability Companies
This legal entity is a cross of company and partnership. They also have a separate legal entity but do not have share capital. The company takes decisions according to the majority vote of its members.
Then, 3E Accounting will help you in selecting the right legal entity for your business which will help in easier company incorporation in the Cayman Islands.
Start Your Business Company Incorporate in Barbados With 3E Accounting
Confuse on which business entity suits your business plan? Then, 3E Accounting is the place for all your solutions. With the help of its proficient members, provides the best advice to you for to company incorporate in Cayman island. We also make sure your company becomes an international success over the years. We are popular for client satisfaction and world-class services in this field.