Register Company in Cayman Islands with Block3 Finance
Registering a company in the Cayman Islands is a straightforward process when you have the right guidance. By partnering with Block3 Finance, you can focus on scaling your business while we handle the complexities of the registration process.
Our goal at Block3 Finance is to make your business operational within the agreed timeline, providing seamless assistance throughout the process of setting up your company in the Cayman Islands.
Our service package includes
Cayman Islands company registration with the General Registry
Provision of local company secretary and registered address
Corporate bank account opening
Financial license applications (if required)
Annual accounting and tax services
What is a Tax Haven and Are the Cayman Islands a Tax Haven?
A Tax Haven refers to a country that offers favorable tax conditions, such as low or zero tax rates, to attract foreign businesses. The Cayman Islands has long been considered a tax haven, with zero taxes on income, corporate tax, capital gains, and withholding taxes. This has made the jurisdiction an attractive location for offshore business entities.
Despite being listed as a tax haven by various international bodies, the Cayman Islands have made efforts to improve their image and compliance with international standards. The Cayman Islands was removed from the EU's tax haven blacklist in October 2020 after making reforms in line with OECD guidelines. However, some critics argue that it still operates in a way that supports tax evasion, which is why it's essential to consider reputable jurisdictions for offshore company registration.
At Block3 Finance, we recommend considering jurisdictions like Singapore, Hong Kong, UAE, or the UK if your business goals align with better international standing.
What Are the New Economic Substance Requirements?
To comply with international tax standards, the Cayman Islands enacted the International Tax Co-operation (Economic Substance) Law in 2018. This law requires certain business entities to meet economic substance tests, showing that they have sufficient activities and operations within the Cayman Islands.
The law applies to entities engaged in specific business activities such as banking, insurance, financing, fund management, intellectual property, and shipping. Non-compliance can result in significant penalties, including fines or removal from the General Registry.
How Long Does it Take to Set Up a Company in the Cayman Islands?
Block3 Finance streamlines the process to register your company in the Cayman Islands, and we expect to complete your company registration within 2 weeks. Upon receiving the required documents, we will: Conduct a name search with the General Registry.
Complete the registration process with all necessary documentation, including your company’s Certificate of Incorporation, Memorandum, and Articles of Association.
Once the company is successfully registered, Block3 Finance will assist in opening a corporate bank account. You can expect to start operations within 6 weeks of engaging us.
Can Foreigners Register a Company in the Cayman Islands?
Yes, foreigners can easily register a company in the Cayman Islands. The jurisdiction allows 100% foreign ownership of businesses, with no requirement for a resident director. However, the Cayman Islands Business Companies Act (2022) now requires the disclosure of director names as part of a move towards greater transparency.
Companies can be fully owned by foreign investors and operated remotely with the right structures in place, and Block3 Finance will guide you through every step of the process.
How to Register a Company in the Cayman Islands?
Choosing Your Business Structure: Block3 Finance will help you choose the optimal company structure based on your business goals. Most companies in the Cayman Islands are Exempted Companies, ideal for foreign businesses.
Company Name Reservation: We will conduct a search through the General Registry to ensure that your preferred company name is available.
Preparation and Submission of Documents: After receiving the required documents, Block3 Finance will prepare your company’s Memorandum and Articles of Association for submission. For certain regulated industries, approval from the Cayman Islands Monetary Authority (CIMA) may be required.
Registered Agent and Office: We will appoint a local registered agent and provide a registered office address for your company.
Corporate Bank Account: Once your company is registered, Block3 Finance will assist in opening a corporate bank account with a reputable bank in the Cayman Islands or an international bank of your choice.
Licensing and Tax Registration: If required, we will assist in obtaining the necessary licenses and registering your company with the Cayman Islands Tax Authority.
Types of Business Entities in the Cayman Islands
Here are the types of companies you can establish in the Cayman Islands:
Exempt Company: Most commonly used for international business activities, these companies are not required to maintain a registry of members or hold annual meetings in the Cayman Islands.
Exempted Limited Partnership: Suitable for investment funds or business services, where the general partner has unlimited liability, and limited partners have restricted liability.
Limited Liability Company (LLC): Offers limited liability for its members and is typically used for businesses operating offshore.
Resident and Non-Resident Companies: These companies can operate within the Cayman Islands (Resident) or with foreign activities only (Non-Resident).
Special Economic Zone Company: Aimed at foreign investors, offering tax-neutral platforms and various incentives under the Cayman Islands' Special Economic Zone Law.
Advantages of Registering a Company in the Cayman Islands
Tax Exemption: The Cayman Islands offers full tax exemption for income, capital gains, and dividends, making it highly attractive for businesses.
Business Privacy: Shareholder and director information is not publicly disclosed, ensuring confidentiality.
Economic Stability: The Cayman Islands are politically stable and offer a robust legal framework for business operations.
No Minimum Capital Requirement: No minimum capital requirement for most entities.
Contact Block3 Finance for Cayman Islands Company Registration
Starting a company in the Cayman Islands is easy with the help of Block3 Finance. Our team of experts will ensure that your company is incorporated efficiently and compliant with all regulations. Contact us today to learn more about how to register your company in the Cayman Islands, and our team will respond within the next 24 hours.
