Cayman Company Registration

Details

I. Registration requirements

1. Company name: Company name ending requirements: LTD, LIMITED, INC, GROUP (if you use other endings need to be consulted separately) Company name ending words cannot be lowercase. When registering your company name, please make sure the case is the same as the case in the name verification.
2. Registered capital: 50,000 registered capital by default.
3. If you provide photos, be careful not to cover with your hands, do not add watermarks, do not have clutter; documents are neatly placed, photos are clear and complete (do not take only half a page or more than half a page), be careful not to reflect, documents are not placed in card holders or wallets to take pictures, such as driver’s licenses to take out to shoot;
4. The source of funding must provide the name of the company, the position, the annual salary, and the scope of business of the company.

II. The information required for registration

1. Preferred: Natural person shareholder director: ID card + proof of address + handheld photo.
   If the shareholder is a company, the certificate of incorporation + register of directors + register of directors (postmarked) + register of shareholders + articles of incorporation + director’s and shareholder’s identification and proof of address and source of funds are required.
2. For Vanuatu clients (high-risk countries), a Chinese passport and a letter of recommendation from a lawyer or accountant (with a lawyer’s or accountant’s license) are also required – advance consultation is advisable
3. Registration information confirmation form (the source of registration funds should be written on the name of the company where the customer is employed, title. (Annual salary and other relevant information, the source of funds can not be an offshore company, if the physical company.)
4. Self-declaration form for political figures

III. the application process (provided that the customer data are provided to complete, no additional information is required)

1. Contract Payment
2. Customer provides company name for verification
3. Customers provide the necessary information for registration
4. We produce files based on customer data
5. The customer signs, waits for the engraved file to be stamped, and then returns the file to the pipeline
6. Collection of original documents

Original:

1. Certificate of Incorporation (CCO)
2. Resoulution of The Subscriber
3. Register of Directors
4. Share Register
5. Minutes of First Meeting of Board of Directors
6. Board of Directors Resoulution-Issuing Capital Stock
7. Named Certificate of Shares
8. Memorandum and Articles of Association
9. Share Certificate
10. Stamp 3pcs + box

About 10 working days to complete the file after all the information is submitted — 4-7 days to receive the original (the original will be sent together with other company information, the specific time depends on the actual situation) —- director shareholder back to sign the original sent to the customer (the time is subject to the completion of the customer back to sign)

IV. Cayman Company Transfer Agent

Information provided by client
1. Preferred: Natural shareholders and directors: ID + passport, proof of address + handheld photo. (Provide the identity document and address proof provided at the time of registration)
2. Full set of company information (provide the information with the customer’s signature, otherwise the customer will need to sign again later)
3. Supporting documents (such as: sources of funds and company information, business projects)
4. Provide the previous year’s annual audit information and data (if any)
5. Sign the transfer document (provided by our company)
6. If the annual audit is transferred, you need to charge the transfer agent + annual audit + economic substance return fee, the annual audit is overdue, the fines and attorney’s fees need to depend on the specific situation of the company (need to remind the customer to pay attention to the annual audit time). Note: If you find that the client has not done the annual audit or economic substance before after the transfer agent, you need to pay the fee.

Note: The necessary documents for transferring agent: certificate of incorporation, register of directors, articles of association (if there is no additional charge, the sample delivery documents can be seen in the template)

V. Cayman annual audit + economic substance

Annual review: Annual review at the end of December each year

Economic Substance: Cayman’s approach to economic entities differs from other jurisdictions in that it uses a two-stage declaration (Economic Substance Notification (“ESN”) and reporting (Economic Substance Return.) (“ESR”)
Each Cayman company is required to submit an ESN from January to March of each year to indicate whether the project is within the scope.
ESRs are required to be filed within 12 months after the end of each fiscal year for companies that fall within the scope (eight categories and holding companies).
The description is as follows
 a. Within the scope
 Submit supporting documents in accordance with the client’s business project, including but not limited to Cayman’s financial statements
 b. Within twelve months after the end of the financial year
 Within twelve months of the end of the financial year if an ESN has been filed for a Cayman company within the scope of the ESR

Note: Cayman delisting depends on the date of resignation of the agent, the agent will be cancelled about 6 months after resignation.

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