Determine Company Type
There are many ways to structure your company in the Cayman Islands, and as such understanding the categorization or type of company you open is critical to your success. Resident Companies operate primarily in the Cayman Islands, selling goods or services locally. While Exempt or Non-resident Companies primary operations are typically located offshore. Determining which company type best meets your business needs will ensure that you begin this process with a clear structure in mind and that your government compliance is handled accurately from the start.
Types of Companies
A resident company primarily carries on business within the Cayman Islands. Resident companies must maintain at their registered office, open for public inspection, a register of their past and present members. They must also report annually to the Registrar, giving the names and addresses of members, directors, and the amounts of paid-up capital. This type of company is also allowed to hold land as defined under the Companies Law. Resident companies include, Resident Limited by Guarantee Companies.