“Fionza Consultants has a proven track record of assisting numerous clients in incorporating their businesses in the Cayman Islands. Our comprehensive formation package to register a company in the Cayman Islands provides all the insights you need to navigate the incorporation process successfully. We strongly recommend that you review this guide to gain a comprehensive understanding of the steps involved in the process.
Step 1: Choosing the Right Company Structure Before proceeding to register a company in the Cayman Islands, our dedicated team of consultants will work closely with you to assess your company’s objectives and activities. Based on your specific needs, business activities, tax obligations, and the nationalities of your shareholders and directors, we will recommend the most suitable company structure. We’ll also advise you on the optimal paid-up share capital, company structure, relevant legislations, and whether any licenses are required to operate. In most cases, Fionza Consultants often recommends incorporating an exempt company.
Step 2: Reserving Your Company Name Prior to initiating the registration process, Fionza Consultants will conduct a search with the Cayman Islands Registrar of Companies to reserve your preferred company name through the Cayman Islands General Registry.
Step 3: Preparing Supporting Documents To facilitate the incorporation of your company, you will need to provide us with the required Know Your Customer (KYC) documents, including director names and identification proof. Once we have received all necessary documents, Fionza Consultants will proceed to draft and notarize the company’s Memorandum and Articles of Association, a crucial step in the registration process. Depending on your business activity and structure, we will also prepare articles of incorporation, a business plan, and other necessary incorporation documents. If your industry falls under regulation, approval from the Cayman Islands Monetary Authority may also be required.
Step 4: Filing for Registration Complying with local laws, incorporation necessitates the appointment of a registered agent and a registered office. Fionza Consultants will provide you with both of these essentials. After engaging Fionza Consultants to register your company in the Cayman Islands, we will proceed to file the necessary registration forms and certificates with the General Registry for approval. Once approval is granted, you will receive your Cayman Islands company registration number, and we will promptly courier the Certificate of Incorporation, Memorandum and Articles of Association, and other pertinent documents to your preferred address.
Step 5: Applying for Trade or Business Licenses If your business operates in a regulated industry such as banking or insurance, our team of dedicated consultants will assist you in obtaining the necessary approvals from the Cayman Islands Monetary Authority. For those looking to incorporate an exempt company while maintaining trade activities, our consultants will guide you through the process of obtaining a license under the local Trade and Business Licensing Law from the Department of Commerce and Investment.
Step 6: Corporate Bank Account Opening Following the successful registration, Fionza Consultants will facilitate the process of opening a corporate bank account. Leveraging our established partnerships with reputable banks in the Cayman Islands, we will introduce your company to each relationship manager and compliance team. Our experienced banking team will efficiently secure banking solutions within the specified timelines. Typically, the bank account opening process takes approximately 4 weeks, and in most cases, directors and shareholders are not required to travel. However, if travel is necessary, we can arrange for a representative to accompany you to the bank meeting. Alternatively, we can negotiate with the banks to conduct a conference call or request a waiver. Once your account is successfully opened, Fionza Consultants will courier the internet banking token and access codes to your preferred address.
Step 7: Financial Reporting and Taxation Obligations Following the establishment of your new company, our dedicated team of consultants will continue to support your business by ensuring all necessary services for your company’s successful operation are diligently managed. Per local regulations, companies are required to submit an annual return to the Registrar of Companies, providing details such as the names and addresses of members and directors, as well as the amount of paid-up capital. Additionally, an annual company licensing fee of CI$800 applies. We will provide annual reminders to ensure you remain compliant with these regulatory obligations, allowing your new company to conduct business legally and efficiently.”
(Note: “CI$” refers to the Cayman Islands dollar.)