Offshore jurisdictions are often considered as controversy ones for doing business at the legislative level. Despite this, offshore countries are used for minimizing taxes, and this way remains legal. Many entrepreneurs prefer to register their business abroad – in countries offering the lowest tax rates for non-residents.

The Cayman Islands, managed by the UK, attract businesspersons who intend to open an offshore company. A small island nation provides incredible benefits for entrepreneurs – and at the same time, it is very easy to proceed with the Cayman Islands company formation.

The Cayman Islands company formation – what is required for procedure?

The first advantage of the Cayman Islands company formation is that the procedure itself does not even require the personal visit of interested parties. Registration can be done remotely – it is enough to submit a small set of documents to the official bodies of the Cayman Islands.

The list of necessary papers includes:

• Company registration documents – copies officially certified by a notary;
• Copies of the charter of the company or its constituent contract;
• A certificate officially confirming the company’s good reputation – the authorities are sensitive about this issue;
• Documents with the names and addresses of company managers.

Registration deadlines may vary, however, on average, starting a business in Cayman takes from a day up to two weeks.

What advantages will people get from the business in Cayman Islands?

The merits of the Cayman Islands company formation are difficult to overestimate. Firstly, the tax obligations are significantly reduced.

• Offshore companies are not subjected to tax regime for 30 years. In addition, if you open partnership in the island state this period will increase up to 50 years.
• Business management is not controlled by the official authorities of the Cayman Islands.

Entrepreneurs neither need to report on the finance flow, nor to provide annual or accounting reports to conduct an audit. Any kind of business activity is allowed within the territory of the islands, which do not violate existing legislation. Business owners of offshore companies registered in the Cayman Islands can use the services of dozens of banks located there – the financial sphere on the islands is well developed.

Дата публикации: 30.04.2019