The introduction of exempted companies in the Cayman Islands

Exempted companies in the Cayman Islands

The proposed business activity is said to be outside the Cayman Islands and the business can apply for the registration of the entity to be as an exempted Cayman company.

The key futures of an exempted Cayman Island company are :

1 No requirement to hold general meetings in the Cayman Islands

2 A registered office required in the Cayman Islands

3 Company Secretary optional

4 No minimum share capital, but one share capital of no par value or par value must be issued

5 At least one shareholder and one director can be a corporate or an individual

6 Not mandatory to file audited accounts, but the company should keep its financial records