Requirements and Administration Guidelines
- There are no minimum capital requirements for a Cayman Islands Company
- Bearer shares can be issued but must be held by a Custodian approved by the Cayman Islands Monetary Authority
- Registered shares can be held in an individual name or corporate body
- Shares may be issued with nominal or no par value
- A Cayman Islands Company can be formed with one shareholder
- Details of shareholders are not maintained on public record
- A minimum of one director is required
- Corporate directors are permitted
- Directors do not have to be shareholders or resident in the Cayman Islands
- Meeting required once a year on the island. Can be done by the appointment of proxies
Restrictions on Name & Activity:
- The company name must not contain any of the following; Bank, Building Society, Insurance, Fund Management, Asset Management or Trust.
- A registered office must be maintained
- It is customary to appoint a company secretary but not mandatory. A representative can act in the capacity of a company secretary
- The company secretary is not required to be a qualified secretary
- Can either be a corporate body or an individual
- The Confidential Relationship (Preservation) Law makes it a criminal offence to disclose or obtain confidential information in relation to Cayman Companies.
- Incorporation is quick and will usually take only a few days.