CAYMAN COMPANY REGISTRATION
INTRODUCTION
The Cayman Islands, which comprises of three islands in the Caribbean Sea south of Cuba, is a British Dependent Territory that was orig-inally discovered by Christopher Colombus. The financial services sector is one of the main industries in the Cayman Islands, and there is a substantial commitment to the continued development of the offshore financial services industry. The reputation and popularity of the Cayman Islands has increased significantly, particularly in Asia, as it is one of only two offshore centres that is approved by the Hong Kong Stock Exchange for public listings in Hong Kong. The Cayman Islands established its own Stock Exchange in 1997.
LAW AND TAXATION
Cayman Islands' companies law is based on the English common law. There are two types of Cayman Islands companies: the Exempted and the Non-resident. The ongoing licence fees for a Non-resident Company are slightly less than for an Exempted Company but they must submit a more detailed annual return and as such, have not gained great favour in Asia. The Cayman Islands received a Royal decree in 1798 that would free them from taxes forever and this decree remains in force. Exempted Company names do not have to end with the su-ffix 'Limited' and may apply for a 20 years tax exemption certificate, further enhancing their tax exempt status. The company name may also be expressed in Chinese characters, so long as its English translation is provided.
ADVANTAGES OF CAYMAN COMPANIES
Not publicizing the status of the beneficiary and the company;
Low tax rate;
No need to hold the meeting of director every year;
Profits gained in other places of operation without paying tax and tax can be avoid reasonably by triangle trading mode;
Cayman has sound financial and juristic facilities and can set up the foundation and financial organization conveniently;
CORPORATE REQUIREMENTS
(1)Names must end with one of the following words, or their relevant abbreviations - Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima. The following names and their associated activities, cannot be used: Assurance, Bank, Building Society, Savings, Loans, Insurance, Reinsurance, Fund, Royal, Trust, Chamber of Commerce, University, Co-operative and Municipal. Chinese names are permitted and can be included on a company's Certificate of Incorporation.
(2)All Exempted Companies must have a registered office provided by a licenced service provider such as TANNET.
(3)A minimum of one shareholder and one director are required and corporate directors are permitted.
(4)The Registers of Directors, Officers and Charges shall be kept at the Registered Office. A copy of the Register of Directors and Officers must be filed at the Companies Registry but is not available for public inspection.
(5)Every Exempted Company must keep a Register of Members and the original or a copy should be kept at the Registered Office. Whilst bearer shares are permitted, in practice they are not encouraged and bearer share certificates must only be held by approved custodians. (6)Annual returns must be lodged but this does not disclose details of the directors or members.
CLASSES OF SHARES PERMITTED
Registered shares of par or no par value, bearer shares, preference shares, redeemable shares and voting or non-voting shares.
LOCAL INFRASTRUCTURE
The Cayman Islands is the leading financial centre in the Caribbean with over 584 licenced banks and trust companies present. All the main international accounting firms are present and there are numerous high quality law firms. Communications and transport links are excellent with regular fljghts from Miami which is only one hour away.
OUR SERVICES
We have a large stock of companies with a wide selection of names that are immediately available for purchase. We can incorporate a company with your choice of name and also confirm the availability of names in advance. All companies are provided with a complete company kit, including share certificates, 5 copies of the M&A plus an electronic copy on CD-ROM, statutory registers, common seal, company chop and a certificate of guarantee of quality. In addition, we can assist clients in obtaining certificates of good standing and other certificates of corporate existence. Through our Group's licenced company management firm in the Cayman Islands, we provide the necessary ongoing services as Registered Office for all companies that we incorporate. We would also be pleased to provide such services to other Cayman Islands-incorporated companies.
FEE AND PAYMENT TERMS
Standard price: RMB28,000
For the foundation and other financial organization, the fee depends on the detailed information. Before registration pay 50% of the total fee as deposit and pay the spare money when finished. You can choose cash, T/T, check and transfer the account to our appointed mainland, HK and oversea bank account.
Tannet—Global Corporate Solution Provider，Value Investment & Strategic Development.
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