Offshore companies are defining components of current international economy.





Anguilla Limited
Singapore Limited
Cayman Limited
BVI Limited
Belize Limited
Hong Kong Limited

Cayman Limited

All Cayman limited companies can present an application for registration as an Exempted Companies as long as the operations of the said Cayman Island limited companies are to be conducted solely outside the Cayman Islands.

Once a Cayman limited company has taken the decision to operate as an exempted company, an official statement must be submitted to the registrar of companies, expressing the company’s intention to operate only offshore and to adhere to the rules for operating under this status. A Cayman limited company that is an exempt Cayman limited must not engage any active trade or offer its services to local residents, companies, firms or corporations in the Cayman Islands. Relations with residents or Cayman Island companies must be to the extent that the exempt Cayman limited company is being facilitated in carrying out its offshore trade and activities.

Relationships with lawyers, accountants and other professionals are therefore not considered doing business with local companies and residents. And, to be able to invite the local public to subscribe for shares, any offshore Cayman limited company must be registered in the Cayman Islands Stock Exchange.

Exempt Cayman limited companies are exempt from local taxation but are required to pay annual company maintenance fees. These fees are worked out on a sliding scale and would as a result be either more or less depending on the capital of the Cayman limited company. So, an exempted Cayman limited with a registered or unregistered capital of more than USD 42,000 must pay USD 420 per annum, while Cayman limited companies (exempted) whose registered capital exceeds USD 42,000 but is not over USD 820,000 must pay USD 660 per annum. If the exempted Cayman limited capital exceeds USD 820,000 but is lower than USD1,640,000 the fee per annum would be calculated to be USD 1, 384, while for Cayman limited companies with a registered capital exceeding 1, 640,000 must pay USD 1, 968. Late fees are also charged according to how late the annual fees are paid. For example, if a Cayman limited company the annual fee between October 1st and 31 December, 100% of the total amount is charged, 66.6% if paid between 1st July and 30th September; 33.33 if paid between 1st April and 30th June.

The law for the offshore Cayman limited makes it possible for these companies to apply to be registered as a company with limited duration (limited duration company –LDC) or a continued Cayman limited company (continuation to the Caymans as an offshore Cayman limited). A Cayman Ltd. offshore that applies to become an LDC must be first subscribed or formed by two persons. A company applying to be an LDC that was not yet registered as a company before applying to be a limited duration company must set its duration to be thirty years, counting from the date of registration. The name of any Cayman limited that is a limited duration company must end with the phrase Limited Duration Company or the abbreviation LDC.

Cayman limited companies offshore are excellent asset protection vehicles and have proven to be effective in lowering tax obligations.

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