Cayman Islands: Types of Company
Foreign companies are companies incorporated outside the Cayman Islands which establish a place of business, or carry on business in Cayman (which includes the sale by or on behalf of the company of its shares or debentures).
Under the Companies Law a foreign company must register within one month, providing the following information:
- a certified copy of its incorporation documentation;
- a certificate of good standing issued by a relevant authority dated within one month registration
- a certified copy of the articles or memorandum of association
- the names and addresses of its directors; and
- the name of a person in Cayman who can accept service on the company's behalf.
There is a fee of KYD1,350 on registration, and KYD1,350 annually thereafter.
A company can also transfer its domicile to the Cayman Islands 'by way of continuance' which obviates the need to incorporate afresh. The reverse process is also possible.