It has become increasingly popular to register business in Cayman Islands due to the characteristics of the Cayman Islands tax haven and its business-friendly environment. Offshore businesses are exempted from corporate or income taxes but are instead required to pay licensing fees. In this article, our team at Tetra Consultants has highlighted 6 things to know before you register company in Cayman Islands .
Situated in the Western Caribbean encompassing three islands, it is relatively accessible from the United States, United Kingdom and Canada. Hence, it holds an attractive market for exports.
The stable economic and political environment attracts investors in setting up a Cayman Islands Company. It is advantageous to start a business in the Cayman Islands due to its up-to-date infrastructure, flexible exchange controls, and world-class communication systems. Furthermore, with the sound legal system, the government is very responsive in supporting the setting up of businesses, creating a business-friendly environment in the Cayman Islands.
Cayman Islands Company Law
One advantage of starting a business in the Cayman Islands would be the availability of a highly educated workforce. With English as the official language, communication would not be an issue when starting a business in the Cayman Islands.
Setting up a business may not be easy; however, it may be easier in the Cayman islands compared to other countries due to its supportive government and pro-business environment.
The Cayman Islands is making a consistent effort to develop a business-friendly environment. In June 2016, the government tightened the copyright laws. In 2017, in order to enhance the country’s business products, landmark legislation for the formation and registration of foundation companies was enacted.
Benefits Of Registering A Company In Cayman Islands
The laws of the Cayman Islands provide protection for the privacy of the investors. They are not obliged to disclose the information of directors, officers and shareholders. They are also not required to submit financial records. This allows for maximum confidentiality, which acts as protection to individual assets and financial security.
The Cayman Islands is known to be a tax haven with no direct taxations. Business owners are exempted from corporate taxes, personal income taxes, property taxes, capital gains taxes, no payroll taxes and no withholding taxes. This allows the Cayman Islands to remain an attractive place to set up businesses.
Instead of direct taxation like other countries, the Cayman Islands earn revenue through fees of stay-over tourism and work permits, financial transactions, and import duties. For example, duty taxes at a rate of 22% to 27% are levied on most imported goods to the Cayman Islands. Whilst items such as baby formula are exempted from duty taxes, other goods such as automobiles are taxed at a higher rate depending on the value of the automobiles.
Find Top Grand Cayman Island Hotels & Hotel Destinations Hotel Search By Hotel & Travel Index
There are a few types of business entities in the Cayman Islands. The main Cayman Islands company types are Exempted Company, Limited Liability Company (LLC), and Exempted Limited Partnership.
The incorporation of a company in the Cayman Islands is straightforward and easily accessible online. It is estimated to take 1-4 working days depending on the processing time.
If you have decided to set up a business in the Cayman Islands, you may proceed to register business in Cayman Islands. The process is as follows:
How To Set Up An Online Business In The Cayman Islands?
The process to register business in Cayman Islands may seem intimidating. With Tetra Consultants by your side, the registration process of your business in Canada will be smooth and hassle-free. Our comprehensive service package includes planning and strategizing with our clients to select a suitable business entity, completing the registration process, obtaining required licenses, opening a corporate bank account, and ensuring your compliance with the government regulations.
Contact us to find out more about how to register business in Cayman Islands and our dedicated and experienced team will revert within the next 24 hours.
Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at enquiry@ for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.
Say Bye To Brexit, Move Your Business To The Cayman Islands
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There are a few types of business entities in the Cayman Islands. The main Cayman Islands company types are Exempted Company, Limited Liability Company (LLC), and Exempted Limited Partnership.
The incorporation of a company in the Cayman Islands is straightforward and easily accessible online. It is estimated to take 1-4 working days depending on the processing time.
If you have decided to set up a business in the Cayman Islands, you may proceed to register business in Cayman Islands. The process is as follows:
How To Set Up An Online Business In The Cayman Islands?
The process to register business in Cayman Islands may seem intimidating. With Tetra Consultants by your side, the registration process of your business in Canada will be smooth and hassle-free. Our comprehensive service package includes planning and strategizing with our clients to select a suitable business entity, completing the registration process, obtaining required licenses, opening a corporate bank account, and ensuring your compliance with the government regulations.
Contact us to find out more about how to register business in Cayman Islands and our dedicated and experienced team will revert within the next 24 hours.
Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at enquiry@ for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.
Say Bye To Brexit, Move Your Business To The Cayman Islands
Previous 4 Things to Know Before You Register a Company in Ireland as a Non-resident next 4 Most Profitable Business in Indonesia in 2023
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