Exempted companyCayman Islands
What it takes to form, own and run a private limited company in Cayman Islands, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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The liability of the members of a company formed under this Act may, according to the memorandum of association, be limited either to the amount, if any, unpaid on the shares respectively held by them
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Any one or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association
The registry’s and the law’s own pages do not mention it.
The registry’s and the law’s own pages do not mention it.
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Tax neutrality – there are no corporation, capital gains, payroll, property or withholding taxes on any type of company, domestic or foreign.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
- A notary
- Not required
- A resident director
- Not stated
The registry’s and the law’s own pages do not mention it.
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- Not stated
The registry’s and the law’s own pages do not mention it.
- Shareholders
- At least 1
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Any one or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association
- Members
- At least 1 · one person may form it alone
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Any one or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association
- A local company secretary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local registered agent
- Required
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shall be the same as the address of the person licensed by the Authority who provides company management services
Each year, at the registry
- Annual registry fee
- KYD 925
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a registered capital not exceeding $42,000, an annual fee of $925
- Accounts on the public record
- No
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Every company shall cause to be kept proper books of account including, where applicable, material underlying documentation including contracts and invoices
- Audit for a small company
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual return: a declaration that the memorandum is unaltered and operations have been mai
- 1 January
With Cayman Islands General Registry
- Annual return declaration to the Registrar
- 1 January
With Cayman Islands General Registry
- Annual fee under section 169, tendered with the return
- 1 January
With Cayman Islands General Registry
- General meeting
- Not required for this type
Companies Act s.58 excludes an exempted company from the yearly general meeting requirement.
What is public
- Directors
- Public
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The Registrar shall make available, the list of the names of the current directors of a company
- Shareholders
- To the authorities only
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The Registrar shall make available, the list of the names of the current directors of a company
- Beneficial owners
- To those with a legitimate interest
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The Registrar shall make available, the list of the names of the current directors of a company
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
No tax on profit · 0%
The Registry states there are no corporation, capital gains, payroll, property or withholding taxes on any type of company.
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Tax neutrality – there are no corporation, capital gains, payroll, property or withholding taxes on any type of company, domestic or foreign.
- CFC rules in Cayman Islands
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Voluntary winding up by special resolution (s.116(c)); striking off for a company not in operation (s.156); or deregistration to continue as a body corporate limited by shares outside the Islands (s.206).
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if the company resolves by special resolution that it be wound up voluntarily
- Statutory fee
- KYD 75
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A request on behalf of the company to strike the company off the register shall be accompanied by a fee of seventy-five dollars.
Every business in Cayman Islands
VAT
- VAT or sales tax
- None levied
The Cayman Islands Government's own account of its revenue lists import duties, stamp duties and service-related fees and states that there are no direct taxes; no VAT, GST or sales tax is levied. The territory charges import duty rather than a consumption tax on supplies, so the remaining fields do not apply.
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Government revenue is primarily derived from import duties, stamp duties, and various service-related fees.
Payment and banking services
1 service names Cayman Islands on its own list: Airwallex. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Exempted company
- ISO 20275 code
- UE3GSecondary GLEIF, Entity Legal Forms code list