Cayman Islands Exempted Company Incorporation Package #CYEC01 - Incorporation and Registered Agent Services
The most common entity in the Cayman Islands is the exempted company ?similar in characteristics to the International Business Company (IBC) in the British Virgin Islands, Bahamas, Anguilla, etc. It may not do business in the Caymans or with Caymans residents but may do business everywhere else the world. There is no income, capital gains or other taxes other than the annual franchise tax (USD575 for companies with minimum stock structure) and no annual accounting requirements.
As with most IBCs, the exempted company must maintain a registered agent/registered office in the Caymans. Approximately two months before April 1, the date by which all Cayman companies must renew, IBCF will send you the Annual Declaration and invoice you for the annual registered agent/registered office fee as well as the annual government fee. The package below covers all the formalities required for the registration of an exempted company in Cayman Islands
1. Cayman Islands Exempted Company Incorporation
(1) Pre- & Post- Incorporation - USD1,200.00 (one off)
Drafting and preparation of the Memorandum of Association and Articles of Association including necessary formalities and filing of same with Registry.
(2) Jurisdiction Fee - USD575.00 / Per Annum
Annual Franchise or License Fee. This fee is forwarded to the Cayman Islands Government by the registered agent/registered office upon formation. The Franchise or Licence Fee of USD575 is applicable to companies with an authorised capital less than or of USD50,000 only.
(3) Registered Agent/Registered Office - USD1,350.00 / Per Annum
Annual Franchise or License Fee. This fee is forwarded to the government by the registered agent/registered office upon formation.
Total Package Price (1) +(2) + (3) = USD3,125.00
NOTE: Disbursements and out-of-pocket expenses are NOT included.
Price includes
- Submission of incorporation documents within 2 working days after confirmation of payment.
- All evaluation & follow-ups are performed by Senior Corporate Consultants
- All services are performed under one roof
2. Time Frame to Incorporate
The whole process for the registration an Exempted company in Caymand Islands may take up anywhere from 2 to 4 weeks.
3. Materials required for incorporation of an Exempted Company in Cayman Islands
The following documents will be required for the purpose of registration:
(1) A general banker’s reference addressed to Kaizen Corporate Services Limited. The banker’s reference should be from a bank of repute, on their original letterhead, and the reference itself should contain the following information:
- The name and home address of the person about whom the reference is to be given.
- Confirmation that the person has maintained an account relationship with the bank for an extended period of time (preferably three years or more).
- An indication of the extent of transactions through the account; and
- Any other comments that the bank may be happy to volunteer in relation to the person.
(2) Photo i.d.: in recognizing general trends in the industry towards the requirement for two separate pieces of photo i.d. we now request that we be provided with a copy of the information pages from the person’s passport together with either the driving license, voter’s identity card or some other form of identification including a photograph. Both of these items of i.d. can be put on a single sheet if necessary. Where we do not take the photocopies ourselves the copies must be notarised, and the notarisation must confirm not only that the copy is a true copy but that the photo is a true likeness.
(3) Independent address verification ?in order to verify the home address information for any person we require the delivery of an item of proof of home address e.g. an ORIGINAL utility, cable bill, etc., such to be provided in ORIGINAL form as a notarised or certified copy is not adequate.
(4) Professional recommendation letter ?where the person is to be introduced to us through a professional office or where the client works closely with professional advisers we request that a brief professional reference be provided.
(5) General description as to the proposed activities of the Company (business plan if the company is to be actively trading), to include adequate information/support documentation to substantiate the source of any funds to be held by the Company.
(6) A brief introduction to the client or clients involved so that we can satisfy ourselves that the activities in the Company are in line with the general profile of such person or persons, including commentary as to the source of funds to be invested through the Company.
4. Timing of Billing
Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.
5. Payment Methods
We accept cash, TT and Hong Kong Dollar check and credit card (by Paypal). Please click here for payment methods.
6. Annual Fees for Second and Subsequent Years
The annual maintenance costs of a standard exempted company are USD1,925. The annual maintenance costs include annual franchise or license fees forwarded to jurisdiction in second and subsequent years following formation. The annual Registered Agent renewal fee is included.
For further information or assistance, please call us:
Hong Kong Office: +852 2341 1444
Singapore Office: +65 6295 2884
Shenzhen Office: +86 755 8268 4480
Shanghai Office: +86 21 6439 4114
Beijing Office: +86 10 6874 8420
or send email to enquiries@bycpa.com.
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