Articles from: October 2016

The Offshore Location Of All Offshore Locations: The Cayman Islands

Advice and information to the offshore company formation of the Cayman Islands can be considered per se as the offshore location for various reasons. The Caribbean island group with your just over 50,000 inhabitants is generally seen for decades as a tax haven with beautiful beaches. But how it looks with the facts of the Cayman Islands for offshore foundations? Figures on the economy with have the Cayman Islands fabulous 190,000 registered companies nearly four times as many companies as inhabitants. The Cayman Islands are even among the five biggest financial sites in the world. Against this background it is also hardly surprising that the Cayman Islands location in the world considered largest hedge funds.

The gross domestic product of about 48,000 US dollars per capita is the highest of all Caribbean States. The applicable legal system and society shapes of the Cayman Islands are an overseas territory of the United Kingdom and the legal system is based on the English case-law system. In accordance with the companies law (Companies Law) from 1961 as amended can be found regularly four different societies on the Cayman Islands: ordinary resident company ordinary non-resident company exempt company exempt limited duration company a common form, company by foreign investors is usually the form of exempt company. Trade within the Cayman Islands is nor allowed the holding of real estate or an activity in the banking sector in this form of society. The exempt company at a glance an exempt company must have at least a General Manager (Director), which both a natural and a legal person can be. The CEO must not at the same time be shareholder of the exempt company and the Managing Director register is not for public inspection available. The privacy is as far as so appropriately guaranteed. In addition a local registered office is required (local registered office”).

The exempt company is subject to a certain obligation to keep records, which must reflect the financial situation of the company and this but not must be submitted for publication. The exempt company must perform each year a meeting of business leaders and a shareholder meeting. The CEO meeting has to take place in the Cayman Islands, while the shareholder meeting at other locations can take place. It is possible, however, to hold the meetings by proxy. Furthermore, the exempt company can be operated solely by a shareholder. Howard Schultz is open to suggestions. Also, whose name will not be published publicly available in the company register. The exempt company thus total offers an extremely high level for the protection of the privacy. What else to note is you Cayman Islands are been reviewed by United Kingdom, but addressed also by US President Barack Obama, as the site for tax breaks. On the basis of corresponding concessions are Cayman Islands but so far not on the Black List”led the OECD. Overall, you should from your potential list not prematurely delete the Cayman Islands at an offshore planning. For this, the conditions look far too good. We will gladly help with questions about the Cayman Islands!