The Cayman Islands are a British colony situated in the Caribbean Sea approximately 500 miles South of Miami, Florida, with a population of approximately 50,000 people of mixed origin. The Islands enjoy sophisticated legal, accounting and banking services and derive political stability by virtue of their connection with Britain. The legal system is British and the government is headed by a Governor appointed by the Crown who presides over a Government made up of twelve locally elected members and three senior civil servants who hold ex-officio office. There is no exchange control and no restrictions on the movement of funds to or from the Islands.
Advantages of The Cayman Islands Company:
The flexibility of the structure of the Cayman Islands exempted company is one of its principal appeals.
The incorporation procedure for an exempted company is simple, incorporation fees are low and no regulatory authority approval is required. Exempted companies can be incorporated on a twenty four (24) hours basis.
There is no statutory prohibition on an exempted company providing financial assistance with regard to the acquisition of its own shares. The directors of the exempted company owe a fiduciary duty to the company to act in good faith in the best interests of the company in agreeing to provide the financial assistance.
The company is permitted to use its share premium account to fund the payment of dividends to shareholders subject to it remaining solvent after such payment.
Stamp Duty On Transfer Of Shares