Country: Cayman Islands
Region:Caribbean
Currency:Cayman Islands Dollar (KYD)
Languages: English
Time Zone: UTC-5
Phone Code: 1-345
Communications: Good
Formation Cost:US$3,500 – US$4,500
Formation Time:3-5 business days
Maintenance cost:US$2,500 – US$3,500
The Cayman Islands is one of the world’s leading international financial centres and is a politically stable jurisdiction thatoffers companies a tax neutral platform for mutual funds, private equity funds,holding structures, structured finance, insurance companies and listing vehicles.
The Cayman Islands is also home to the world’s 50 largest banks and is the second largest offshore jurisdiction for captive insurance. Approximately eight out of ten of the world’s hedge funds are set up in the Cayman Islands. Many private equity funds also choose the Cayman Islands due to its comprehensive and business friendly Exempted Limited Partnership Law.
The Cayman Islands has alsoendeavoured to meet the requirements of transparency. As a member of Automatic Exchange of InformationAgreements, which is made up of three regimes -the Foreign Account Tax Compliance Act 2010, the Crown Dependencies and Overseas Territories and theCommon Reporting Standards(CRS)- efforts have been paid to seek an effective balance between combatting tax evasion and money laundering and individual privacy and confidentiality rights. More than a hundred countries have since subscribed to CRS, withChina, Russia and Australia being late adopters and due to undertake first exchanges by 2018.
Suitable for:
Wealth Management, Banking, Insurance, Fund Management, Shipping, Aviation, Yachting, Trading Financial, Intellectual Property/Licensing, Holding Companies, E-commerce, Property Ownership
Vehicle Types:
Exempted Companies, Segregated Portfolio Companies, Limited Liability Companies, Exempted Limited Partnerships, Foundation Companies, Foreign Companies, Foreign Partnerships, Special Economic Zone Companies (SEZC)
Capital primary Business District:
George Town
Good Relationships:
Bahamas, Barbados, Bermuda, Belize, Canada, Dominica, India, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, United States
Bad Relationships:
Burma, Cuba, Iran, Korea (Democratic People’s Republic of), Libya, Somalia, Sudan, Syria
Tax Burden-Business:
No taxes, only stamp duty which is minimal
Tax Burden-Individual:
No taxes, only stamp duty which is minimal
Headline Tax Rates:
CIT 0%, PIT 0%, VAT 0%
Treaty Jurisdictions:
United Kingdom
TIEA Jurisdictions:
Argentina, Aruba, Australia, Belgium, Brazil, Canada, China, Curacao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland, Italy, Japan, Malta, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Qatar, Seychelles, Saint Maarten, South Africa, Sweden, United Kingdom, United States of America
