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 Company Incorporation 

The following list contains the main types of companies that can be incorporated in the Cayman Islands:

 

  • Ordinary Company:  also referred to as the resident company, it can be incorporated by at least one shareholder and one director.

  • Ordinary Non-Resident Company: is essentially the same as the ordinary company, only that a special certificate is issued to confirm that it will not carry business in the Islands.

  • Cayman Islands Exempted Company: has the same characteristics as the ordinary company and some of the restrictions on doing business in the Islands as the non-resident company but does benefit from lighter management requirements.

  • Limited Liability Company (LLC) is a hybrid form of business entity with characteristics of both a limited partnership and a company. An LLC is governed by an agreement among its members (LLC agreement), much like a limited partnership. However, like a company, its members enjoy limited liability. The Limited Liability Companies Law, 2016, as amended (Law) imposes few formalities and affords investors in an LLC great flexibility in how they wish their LLC to be governed, with the Law deferring in many instances to the LLC agreement. This flexibility is perhaps the LLC’s most attractive feature.

  • Limited Duration Company: it shares many similarities with the LLC and allows investors to only be liable up to the amount invested; certain exemption can apply to this business form.

  • Foundation Company: is a unique structuring option in the Cayman Islands used for wealth planning, and may be used as an alternative to a Cayman trust, a number of features specific to Cayman’s trust law have also been wrapped up into the Foundation Company vehicle, which should prove beneficial to investors and private clients. An attractive alternative to trusts, particularly for those in civil-law jurisdictions, where there are concerns about the tax treatment of trusts. Clients from common-law jurisdictions may also be attracted to a Foundation Company for holding higher-risk assets, such as shares in family businesses.

  • The Foreign Company: a company that is incorporated in another jurisdiction and opens a  place of business to carry out activities in the Cayman Islands.