The Cayman Islands are British Overseas Territory located in the Caribbean Sea, consisting of three islands: Grand Cayman, Little Cayman and Cayman Brac. The flexible legal system in parallel with the times ensures the leading position of the Cayman Islands in finance, commerce, and insurance, making it a famous offshore financial Centre.
Because of the political stability, no foreign exchange control, and no direct tax, many foreign companies, investment funds, and hundreds of banks around the world have branches in the Cayman Islands to engage in the financial business. Thus, the financial services industry has become an important source of income in the Cayman Islands.
The advantages of Cayman Islands Company
1. The Chinese company name can be used.
2. The authorized capital does not need to be verified, funds and profits flow at liberty.
3. One person can hold concurrent posts of the shareholder and director, so, the company can be established by one person.
4. The transfer of shares is prompt and unrestricted.
5. The information of shareholders is not disclosed and is highly confidential.
6. Bank accounts can be opened in Hong Kong or around the world.
7. It is convenient for financing and listing with a high international legal status, the developed and convenient transportation and communications, and a stable political and economic environment.
8. A royal decree in 1798 released the exempted companies from tax obligations, and this decree remains in force.
9. The local currency (KYD) is pegged to the US dollar. 1 KYD is equivalent to 1.2 USD. Most Cayman Islands businesses are traded in US dollars.