Incorporate Offshore Companies of Cayman With the Help of ISOG Lawyer.
The Cayman Islands are a British Crown Colony consisting of 3 islands in the Caribbean lying approximately 480 miles south of Miami, Florida. There is an estimated population of 50,000 and a land area of 260 square kilometers. The official language is English and its currency is the Cayman dollar. The primary industries are tourism and financial services. The Islands are a largely self-governing British Crown colony. Britain is responsible for internal security and defense. The legal system is based on English Common Law and is complemented by local laws.
Offshore companies can carry out the same types of business as onshore companies and the liability of its shareholders is generally limited to the amount of capital they have invested into the company.
The tax rate applied by the government in the jurisdiction in which an offshore company is incorporated is very low if not zero. In some jurisdictions, offshore companies offer a high level of confidentiality which onshore companies do not have.
Usually an offshore company cannot operate in the jurisdiction where it has been incorporated. An exception is Panama, where an anonymous company can at the same time operate offshore at a zero tax rate and onshore at the local tax rate.
The formation of an offshore company is quite simple, as well as its management and administration, but it requires some planning. In fact, a company does not need to be administered in the country of its incorporation.
What you need to think about is the objectives you want to achieve by setting up an offshore company: Do you need confidentiality?; Do you need to operate freely in European countries?; Do you need to operate in countries which have a double taxation agreement in place?; or Do you need to protect your company assets from confiscation or expropriation orders or similar actions by foreign governments?
Highlights of Offshore Companies of Cayman:
- Confidentiality on shareholders information
- Based on English Law
- Well developed professional infrastructure
- British dependent territory
- Neutral tax jurisdiction
- Regulated financial services industry
- Exempt from future taxes for a period of 20 years
|Type of company||Exempt Company|
|Companies Law||Cayman Islands Companies Law (Cap.22)|
|Bearer Share Permitted||Yes (Restricted Mobility)|
|Minimum License Fee||USD 793|
|Disclosure of Ownership||No|
|Corporate Seal Required||Yes|