Title: Get to Know The Process of Company Formation in Cayman Islands!
11 (345) 949 4244
gbutler_at_ims.ky
www.ims.ky
2About Us
International Management Services Ltd. (IMS),
one of the oldest licensed financial service
providers in the Cayman Islands (first licensed
in 1974), has long been a premier provider of
corporate services in the Cayman Islands. Having
been in business since 1974, The IMS Group of
companies has always been seen as a pioneer in
the Cayman Islands, having formed one of the
first Cayman hedge funds being the first
provider of professional independent directors to
Cayman Funds forming one of the first Cayman
captive insurance companies and incorporating
thousands of Cayman companies along the way.
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3Company Formation
In over 35 years of operation IMS has formed
thousands of companies on behalf of its clients.
IMS has developed procedures and processes which
enable it to arrange the registration of a Cayman
company within 48 hours of receiving instructions
provided all regulatory and compliance
requirements are met. Our extensive expertise in
this area not only enables us to advise clients
on the type of company which will meet their
needs but ensures that the formation process is
quick and in full compliance with all regulations.
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4The three types of most commonly registered
companies in Cayman under the Companies Law are
the Ordinary Resident Company, Ordinary
Non-Resident Company, and the Exempted Company.
- An ordinary resident company is usually formed
for the purposes of carrying on local business in
the Cayman Islands. In addition to the Companies
Law, it is subject to the terms of the Local
Companies (Control) Law 1995 which requires
licensing, and the annual submission of a list of
shareholders. Registration fees are payable on
incorporation and annually. - An ordinary non-resident company is subject to
the same rules as a resident company, but must
not conduct any business within the islands. This
form, or that of the exempt company, is the usual
choice for offshore operations. The Financial
Secretary will grant a certificate of
non-residence if he is satisfied that the company
does not and does not intend to trade onshore.
The company is then relieved of the licensing
requirement. - A Cayman Islands Exempt Company differs from a
non-resident company in the following ways - An exempted Caymans company does not have to use
Ltd or Limited in its name - it may issue bearer shares in addition to
registered shares, but they must be held by an
authorized depositary
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5Cayman Fund Law
The three types of regulated funds under the Law
Registered Funds Require that either (a) the
minimum subscription per investor must be at
least U.S.100,000 (or its equivalent in any
other currency), or (b) its equity interests be
listed on a stock exchange approved by
CIMA. Administered Funds A mutual fund having
more than fifteen investors and not being a
licensed or registered mutual fund will be an
administered mutual fund (an Administered Fund)
if its principal office in the Cayman Islands is
provided by a mutual fund administrator licensed
in the Islands. Licensed Funds Unless a mutual
fund is an administered, registered or is subject
to an exemption, it must not carry on business in
or from the Cayman Islands unless it has a mutual
fund license and has either a registered office
in the Cayman Islands or, in the case of a unit
trust, has a trustee which is a local licensed
trust company.
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6Contact Us
International Management Services
PO Box 61 Harbour Centre, Grand Cayman KY1-1102,
Cayman Islands 1 (345) 949 4244 1 (345) 949
8635 gbutler_at_ims.ky
www.ims.ky