{"id":35819,"date":"2020-06-11T13:46:00","date_gmt":"2020-06-11T05:46:00","guid":{"rendered":"https:\/\/zegal.com\/?p=35819"},"modified":"2022-06-28T13:49:50","modified_gmt":"2022-06-28T05:49:50","slug":"company-incorporation-step-by-step-cayman-islands","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-au\/blog\/post\/company-incorporation-step-by-step-cayman-islands\/","title":{"rendered":"Company Incorporation Step by Step: Cayman Islands"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-36045\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-1024x768.jpg\" alt=\"\" width=\"1024\" height=\"768\" srcset=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-1024x768.jpg 1024w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-300x225.jpg 300w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-768x576.jpg 768w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-1536x1152.jpg 1536w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-640x480.jpg 640w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920-1200x900.jpg 1200w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/06\/cayman-52328_1920.jpg 1920w\" sizes=\"auto, (max-width: 639px) 98vw, (max-width: 1199px) 64vw, 770px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">This article covers the main points on registering a company in the Cayman Islands. Read on for details on the Cayman Islands\u2019 requirements, procedures, and the estimated timeline to register a company.\u00a0<\/span><\/p>\n<h4><b>Minimum Setup Requirements to Register a Company in the Cayman Islands<\/b><\/h4>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Director &#8211; 1\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shareholder &#8211; 1<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There is no residency requirement for the directors.<\/span><\/p>\n<h4><b>Registration Timeline\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Cayman Islands has a very streamlined and easily accessible online system that makes company incorporation efficient. It takes approximately <\/span><b>1-4 working days<\/b><span style=\"font-weight: 400;\"> depending on the processing time for each step. The process is administered by the Registrar of Companies and can be found <\/span><a href=\"https:\/\/www.ciregistry.ky\/companies-register\/incorporation\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The cost of registration is dependent on the type of business structure, more details on the pricing structure can be found <\/span><a href=\"https:\/\/www.ciregistry.ky\/companies-register\/company-fees\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h4><b>Step 1: Reserve your Company Name\u00a0\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Before deciding on a company name, it is important to decide on the type of company structure that will be suitable for your business activities. There are multiple types of structures and more information can be found on the official Cayman Islands General Registry <\/span><a href=\"https:\/\/www.ciregistry.ky\/companies-register\/types-of-companies\/\"><span style=\"font-weight: 400;\">website<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once the business structure is decided, you can reserve the proposed company name. You have to run a search with the General Registry to make sure the name is available for your company.<\/span><\/p>\n<h4><b>Step 2: Complete &amp; submit the incorporation application\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">There are a few documents required in the incorporation application.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The required basic documents are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Memorandum of Association <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Details the company\u2019s name, registered office, company objective, amount of shares and capital<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Articles of Association<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">The rulebook that regulates the internal conduct of the company<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">CIMA Approval <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Require by companies that entering regulated businesses <\/span>\u00a0<\/li>\n<\/ul>\n<p><b>Accounting<\/b><\/p>\n<p><span style=\"font-weight: 400;\">All exempted companies incorporated by the Cayman Islands must keep account records. It need not be kept in the Cayman Islands but it should be easily accessible if there is a need for it.<\/span><\/p>\n<p><b><\/b><b>Corporate Tax Requirements<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Cayman Islands does not impose any form of taxes, which is why it is referred to as a &#8216;tax haven&#8217;.<\/span><\/p>\n<h5><b>Annual General Meeting<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Companies incorporated in the Cayman Islands are not legally required to hold an annual general meeting each year. However, one can be held annually if it is reflected it its own Articles of Association.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><b><i>This article does not constitute legal advice.<\/i><\/b><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">The opinions expressed in the column above represent the author\u2019s own.<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/register.zegal.com\/\"><b>Start managing your legal needs with Zegal today<\/b><\/a><\/p>\n<p>MORE IN THIS SERIES: Company Incorporation: <a href=\"https:\/\/zegal.com\/blog\/post\/how-to-start-a-business-in-hong-kong\/\">Hong Kong<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">Singapore<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-japan\">Japan<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-new-zealand\/\">New Zealand<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-australia\/\">Australia<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-taiwan\/\">Taiwan, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-macau\/\">Macau<\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-china\/\">China<\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-singapore\/\">, <\/a><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-philippines\/\">Philippines<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/incorporation-british-virgin-islands\/\">BVI<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-vietnam\/\">Vietnam<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-thailand\">Thailand<\/a>,<a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-indonesia\/\">\u00a0Indonesia<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-step-by-step-cayman-islands\/\">Cayman Islands<\/a>, <a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-united-kingdom\">United Kingdom<\/a><\/p>\n<p><a href=\"https:\/\/zegal.com\/legalguide\/incorporate-your-business\/\"><span style=\"font-weight: 400;\">READ MORE: Documents required when incorporating your business<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":96,"featured_media":36045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"categories":[133],"tags":[10609,25,10307,7707],"usecases":[],"businesstypes":[],"country":[],"class_list":["post-35819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup","tag-cayman-islands","tag-company-incorporation","tag-z-syndicate","tag-zegal"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Company Incorporation Step by Step: Cayman Islands | Zegal Australia<\/title>\n<meta name=\"description\" content=\"Setting up a business in Cayman Islands couldn&#039;t be simpler. 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