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  • Cayman Company Registration
  • Author Date Time:2010-03-24 07:16:25
  • Compass Consulting Limited provides professional service to you for Cayman company formation and management. The detail information is as follow.

     

    Cayman Overview

    Cayman is located in the western Caribbean Sea, comprising the islands of Grand Cayman, Cayman Brac, and Little Cayman. It’s an overseas territory of the United Kingdom. The capital and major city of Cayman is George Town, which is located on the south west coast of Grand Cayman. Cayman Islands have different types of companies where you can register your company. When you register, you will need to choose what type of company you’re in, and each type has their designated fees which you will pay annually. It is a global offshore financial services center. And Cayman corporate formation is a tax-efficient corporate solution for international entrepreneurs.

     

    Types of Cayman Company Registration

    Presently, there are four basic types of companies available in Cayman company registration:

     

    1. Resident/Ordinary Companies

    Resident/Ordinary Companies are companies with capital less than $42,000; pays for fee of $150 upon registration. If their capital is more than $42,000, their registration fee is $350.

    2. Non-Resident Companies

    Non-Resident Companies are companies without permanent location and has capital less than $42,000; upon filing a Memorandum and Articles of Association, and its Annual Return of January, the registration fee is $400. If the capital is more than $42,000 then the registration fee is $565.

    3. Exempted Companies

    Exempted Companies are companies where the activities are held outside the Islands. Most people use these offshore locations for exempt companies for a business which would be barred from carrying out business in Cayman, other than in the requirements for doing offshore businesses. It is also possible that Trust companies, Insurance and Banks can end up being registered as an exempt company, once the required license is done.

     

    With this type of company annual fees are divided into different categories.

    With a capital of less than $42,000 has a registration fee of $470.

    With a capital between $42,000 and $820,000, the company pays for the registration fee of $660.

    With a capital between $820,000 and $1.64 million, its registration fee is $1,384

    With a capital more than $1.64 million, then the registration fee are $1,968.

    4. Segregated Companies

    Segregated Companies are the type of companies for insurance enterprises.  The annual fee is the normal exempt registration fee plus $2,000 and an additional fee of $1,000 for each segregated portfolio.

     

    Requirements of Cayman Company Registration

    Company Name: Must end with one of the following suffixes: Limited or Ltd.; Corporation or Corp.; Incorporated or Inc.

    Shares & Capital: The standard share capital is USD 50,000.00 divided into 50,000 shares of USD 1.00 each. Shares can be issued with or without par value. Bearer shares are permitted but must be held by an authorized or recognized custodian as approved by the Cayman Islands Monetary Authority.

    Director: Minimum of one Director. Corporations are permitted.

    Secretary: A Secretary is necessary.

    Shareholder: Minimum of one Shareholder. Corporations are permitted.

     

    Declarations or Alterations

    Just about all the declarations of this company, which would include the modification of the name or the alterations of their Articles or Memorandum of Association, should be submitted to the Registrar of Companies in fifteen days. In addition, a declaration modifying the company’s directors and representatives or the altering of the registered business office should always be submitted to the Registrar within thirty days. Besides, these companies are required to keep a general meeting each year at least once in the Cayman Islands, as well as file annual returns.

     

     

    Registration Process

    Procedure: Fill in the application form→sign the confirmation letter personally→pay the deposit→transact in the government→finish within 10-15 working days→All the director sign the legal document personally→submit the document to UK government to file→pay the spare money.

     

    Compass Service

    Compass package services include: Certificate of incorporation; Memorandum and Articles of association of the company; Common seal and atomic seal; Share book; registration address.

     

     

    CONTACT US

    TEL: 86-20-29050789             Mobile: 86- 18620718759 (24 hours service)  

    MSN: topcompass@hotmail.com     QQ: 859092400

    Website: www.for-copmass.com