What do you need to open business in the Cayman Islands Tax Haven, and why you should choose it?

Optimizing the tax burden is one of the main tasks of any business. Too large deductions to the tax office can significantly slow down the development of the company - or even completely lead to its fail at the initial stages.

The Cayman Islands tax haven provides entrepreneurs with a good way of reducing taxes. The specifics of the country`s legislation make the Cayman Islands very convenient place to register a business.

Company registration in the Cayman Islands - what is required for it?

Companies may choose Cayman Islands for legal address - the island state does not impose strict business requirements.

Documents for the opening of the company are as follows:

• Statutory and registration documents of the company, or rather, their copies, certified by a notary;
• Certificate confirming the good condition of the company and its clean reputation;
• Documents giving insight into the persons managing the company - it is necessary to indicate the names and contacts of the directors.

In addition, you will need to hire an agent who can represent the interests of the company directly in the Cayman Islands tax haven.

State legislation requires that the company`s authorized capital be at least $ 50,000, but it is very convenient that it is not necessary to actually contribute these funds.

You can register a company in the Cayman Islands tax haven not only on a full-time basis, but also remotely. The advantages of the Cayman Islands company formation include the following aspects:

• First of all, non-resident companies may not pay taxes for 30 years. If a firm is registered as a partnership, it is exempted from taxes for 50 years.
• Company owners are not obliged to report to official bodies and conduct an audit; they also do not control the movement of finances in the company`s accounts.
• The Cayman Islands provides non-resident firms with a high level of confidentiality.

Information about the company and its managers is closed and can be provided to anyone only after a court ruling. At the same time, nominee managers can be used in the Cayman Islands - there are no legal obstacles to this. In addition to financial advantages, offshore companies in the Cayman Islands tax haven provide additional opportunities for business development - with such a legal address, it is much easier to start international activities.