Cayman Islands - consist of a group of three islands in the Caribbean: Small Cayman, Cayman Braque and Grand Cayman. They are a self-governing colony of Great Britain.
The islands have one of the highest living standards in the Caribbean - the average GDP is around 50,000 USD. There are more than 500 banks in Cayman, and the number of registered international companies exceeds the population. The official language is Cayman - English, currency - KYD dollar. An exempted company does not pay income tax, inheritance tax. The legislation provides guarantees that the company will not be affected by the introduction of any additional taxes for 20 years, in the case of partnerships, the state provides guarantees for 50 years. International companies do not submit financial statements, but must maintain financial statements that reflect the financial position of the company and maintain it. An international company must submit an annual report to the Register of Companies and pay an annual fee, the amount of which is directly proportional to the size of the authorized capital of the company.Cayman Company Laws are based on the English Company Act of 1948. There are two laws: the Companies Act 1960 and the Companies Operating Rules 1984.The minimum authorized capital is 1 USD, but the standard is considered to be capital - 50 000 USD, divided into 50 000 standard shares in one dollar.
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