Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
The Cayman Islands is not only an attractive tourist resort, but one of the most profitable tax havens in the world. Since the beginning of 2008, more than 93 thousand companies have been opened in the area of jurisdiction, the majority of which are investment funds and banks. In addition, a stock exchange was opened in the Caymans area in 1997, which further increased capital inflows to the offshore area from around the world.
What are the most popular offshore companies in the Caymans for business
- Advantageous economic neighborhood. Due to the fact that the territory of the Caymans belongs to the United Kingdom, there are all the traditional advantages of the protected business of England in a complex with imposing tax privileges of the harbor.
- The largest financial center of the world. Due to the fact that the banking sector of the jurisdiction is now firmly in the top 5 of the world, a lot of stock brokers, financial speculators and traders already have open accounts in the Caymans.
- There are no restrictions on the currency and capital movement of the company. All mutual settlements business can freely carry out in a convenient currency of the world without taxes and commissions on the part of fiscal services.
- Full range of tax benefits for at least 20 years. Natural and legal persons in the Cayman Islands are exempt from all types of taxes, including income tax, capital gains, source tax, VAT. The only contributions in the Cayman Islands are the stamp duty (7.5% of the market value in the sale of real estate) and the annual fee (854-3 132 USD Depending on the authorized capital of the firm). For partnerships, the period of validity of the tax-free regime is 50 years.
- Tax benefits for international business. The jurisdiction has concluded an agreement with 36 countries on the avoidance of double taxation, which allows holding business on favorable terms and unhindered withdrawal of the company's capital from the country.
- Stable political situation. Caymanians have one of the highest levels of life in the world due to a stable economic and political situation. In addition, according to the latest statements of the Minister of Finance of the jurisdiction, until 2021 no political or economic tightening for residents and non-residents of the country is not foreseen.
Cayman Islands offshore: business requirements
Within 5 years, the company is obliged to keep records, about all transactions with residents and non-residents, purchase/sale of property, shares of the company.
Companies whose activities do not depend on licensing are not required to file financial statements.
Offshore companies are also exempt from annual tax audit and filing tax declaration.
The only type of report required for all natural and legal persons is the annual report to the registration chamber.
In the jurisdiction, there are no established restrictions on the minimum or maximum size of the authorized capital of the company, but the recommended size for the new companies is $50 thousand, divided by an equal number of shares of $1.
Founders and staff
In order to register and conduct activities, a company in the Cayman Islands must have at least one director and a shareholder. Founders can have the residence of any state and any form of management (both a person and a legal entity). The staff of the company, in particular the secretary or agent, in the territory of the jurisdiction has no established requirements. Therefore, hiring a representative is optional.
Confidentiality of data
There is a closed register of data on the founders and activities of the company in the offshore zone. However, it is worth noting that the jurisdiction has signed a treaty on mutual legal Assistance in criminal matters with the United States and plans to sign a similar with some European countries. For business, it means possible disclosure of corporate information in case of suspicion of founders, beneficiary or other representatives of the company in fraudulent schemes, hiding from creditors or other criminal offences.
Company registration in the Cayman Islands: general requirements
Minimum package of documents:
- Certificate of incorporation;
- Resolution on the appointment of the director (nominee);
- Memorandum of the company;
- Charter of the company;
- Certificate of shares;
- Printing and apostille.
The company's registration period is up to 14 days from the date of submission of documents. However, the specialists of the company Global Business Services Agency will help to shorten the registration period significantly. In terms of international legislation and the peculiarities of financial institutions, we will open for you a new company in the shortest term for the available cost or provide a list of already open business to choose from.
Prices for company opening:
- Registration – from $3 395.
- Package of apostilled documents – from $245.
- Services of nominal service – from $1 195.
- Extension for each year (including reporting) – from $3 395.
Do your business on an international scale already today with GBS Agency!