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Cayman Islands: Types of Company

Exempt Company

The differences between a non-resident company and an exempted company are as follows:

  • An exempted Caymans company does not have to use Ltd or Limited in its name;
  • it may issue bearer shares in addition to registered shares, but they must be held by an authorized depositary;
  • it has to hold one directors' meeting a year in Cayman (but may use proxies);
  • it does not have to hold a shareholders' meeting in Cayman;
  • it need not file a list of shareholders annually, and does not even have to keep such a list;
  • it may obtain a Certificate of Tax Exemption (ie against any future Cayman taxation)

A revision to the Companies Law in 2007 removed the need for exempted companies to hold an annual meeting in the Cayman Islands.

An exempted company (or limited duration exempted company) is the normal form of choice for collective investment vehicles. Incorporation and annual fees depend on capital as follows:

  • KYD600 for capital less than KYD42,000
  • KYD900 for capital between KYD42,001 and KYD820,000
  • KYD1,884 for capital between KYD820,001 and KYD1.64m
  • KYD2,468 for capital over KYD1.64m
  • KYD150 annual licence fee for companies located in Cayman Enterprise City



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