Cayman Islands company formation – benefits of choice and documents required
Excessive taxes occasionally become a reason of new company devastation or delay in its rapid and successful development. To avoid such a scenario, firms have been using the offshore method – which is legal from the law side, and provides great advantages for business.
An interesting option for business registration is the Cayman Islands company formation. A small island-state offers extremely mild conditions for business registration for entrepreneurs from other countries.
What makes the Cayman Islands convenient for IBC registration?
There is a number of significant advantages of the Cayman Islands state:
- Political and financial stability of the state – by Cayman Islands company formation, you may forget of any circumstances that would have a negative impact on your business;
- Lack of taxation for non-resident firms for 30 years and for 50 years for partner companies;
- No requirements for regular submission of annual and financial report;
- A wide range of permitted activities – if the company business does not violate the laws of the Cayman Islands;
- Well-developed banking sector – more than 270 financial organizations, which are ready to offer their services to offshore companies;
- High prestige level of the Cayman Islands company formation – it will be easier for the company to establish international contacts with such a legal address.
How to open an offshore business in the Cayman Islands?
Another undoubted advantage of the Cayman Islands company formation is the most simplified procedure for business registration. The list of necessary documents is reduced to the statutory and registration papers of the company and information about the management staff, (who can also act as nominees). In addition, the official structures of the Cayman Islands need to provide proof that the company is in a good condition and has a transparent reputation.
You can register a company in the Cayman Islands remotely, the same refers to business management – it can be done remotely. The island state offers to non-residents a high level of confidentiality – information about directors and the company’s activities are protected from disclosure to third parties. Thus, all conditions are provided for easy business development.