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Cayman Island General
overview
The Cayman Islands is located in the Caribbean Sea, 268
kilometers northwest of Jamaica and 640 kilometers south of Miami. It comprises
the three islands of which, Grand Cayman comes from a Carib word that means
“crocodilian” in English. When Spanish first discovered the Cayman Islands,
traces of crocodilians can be easily seen on coasts. It has a tropical climate,
dry in winter. Its population is about 35,000, of which the extraneous people
account for 34%.The Cayman Islands is still a dependent territory of the United
Kingdom, so the head of government is appointed by the queen of the United
Kingdom. But, local residents may elect 12 Parliament members for legislation
and management of financial & economic affairs on the islands.
For a long term, the Cayman Islands Government is very
stable. Official language: English. Either Little Cayman or Grand Cayman plays
a decisive role in global financial services. In addition, Grand Cayman is far
better than islands of the Caribbean Sea and Central America in scale and
universality. Over 70% of local residents serve in fields related to finance
and business. The Cayman Islands is booming, thanks to its government’s from
time to time amendment of laws to maintain its leadership in finance, insurance
and business, etc. Now, there are 588 world famous banks and all of them set
branches here to provide financial services. These banks have attracted a total
amount of deposit of about USD 415,000,000. What’s more, Cayman is one of the
major markets for global EUR transaction. KYD(local currency): 1 KYD = USD 1.2,
fixed exchange rate.
Shareholder of Cayman
Company
A Cayman Company shall have at least one shareholder, who
can be either a natural person or a legal person, regardless of nationality.
The Cayman Islands Offshore Company may issue nominal shares or bearer shares.
Director of Cayman
Company
A Cayman Company shall have at least one director, who can
be either a natural person or a legal person, regardless of nationality.
Registration address of
Cayman Office
The registered branch office must be located in the Cayman
Islands.
Name of Cayman
Company
There are no special requirements for name of a Cayman
Company, but name shall not include wordings like Bank, Trust, Mutual Fund,
Insurance or Reinsurance, unless otherwise specially approved.
Tax Requirement for
Cayman Company
A Cayman Company needs not to declare or pay any taxes,
except annual license fee.
Confidentiality of
Cayman Company
An offshore company registered in the Cayman Islands is kept
strictly private and confidential, without disclosure of shareholders’ register.
Tannet Malaysia is an international consultant firm based in Hong Kong, Shenzhen. We provide various business services to those investor who are interested to invest oversea such as international company registration, global trademark registration, commercial secretarial services and etc. Kindly contact us for more information if you are interested.
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