Summary of Features of Cayman Islands Exempted Company


General Information
Company Law Cayman Islands Companies Law (Cap.22) .
Type of Company Exempt Company
Language of Legislation and Corporate Documents English
Taxation of Foreign Profits Nil
Exchange Controls None
Length of Time to Incorporate 1 day
Shelf Companies Available Yes
Corporate Names
Name Restrictions Names identical or similar, offensive words
Endings and Abbreviations Required Limited or its abbreviation “Ltd”.
Length of Time to Verify Name Availability few minutes
Reservation of Names Permitted Yes
Language of Name Any language
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license Yes
Capital and Shareholders
Minimum Number of Shareholders One
Local Shareholders Required No
Corporate Shareholders Permitted Yes
Disclosure of Shareholders No
Minimum Authorised Capital Required No minimum
Bearer Shares Permitted Yes (but with restricted mobility)
Registered Shares Permitted Yes
No Par Value Shares Permitted Yes
Directors and Officers
Minimum Number of Directors One
Qualifications of Directors Legal Age
Officers Required No
Corporate Directors/Officers Permitted Yes
Local Directors/Officers Permitted No
Appointment of Subsequent Directors/Officers Memorandum and Articles of Incorporation
Annual General Meeting of Shareholders Required No
Annual General Meeting of Directors Required No
Location of Directors and Shareholders Meetings Anywhere
Adoption by Consent Permitted Yes
Quorum required for purposes of meetings determined by the Memorandum and Articles of Incorporation
Local Requirements
Qualified Registered Office/Agent Yes / Yes
Government Register of Shareholders Optional
Government Register of Directors/Officers Optional
Government Register of Charges Optional
Register of Directors/Officers to be kept at Registered Office Yes
Company Seal Required Yes
Copy of Minutes to be kept at Registered Office Optional
Copy of Share Register to be kept at Registered Office Yes
Annual Requirements
Minimum Annual License Fee or Franchise Tax $ 575
Annual License Fee or Franchise Tax Due Date January
Applicable Surcharges 33.33%, 66.67% and 100 %
Requirement to File Annual Returns Yes
Requirement to Submit Annual Audited Accounts No
Other Relevant Information
Member of Apostille of the Hague Convention Yes
Increase or Reduction of Capital Directors’ resolution
Redomiciliation Prohibited No
Reinstatement at Registry Yes
Removal from Registry Compulsory or voluntary winding up and dissolution; and striking-off for non-payment