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| INTRODUCTION |
The Cayman Islands are located in the Western Caribbean and consist of three islands. The business and financial center is located in George Town on Grand Cayman.
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| LAW AND TAXATION |
The Cayman Islands are a British Colony which administers its own internal affairs. A Governor is appointed by the Queen to head the Cayman government. The government also consists of an Executive Council and Legislative body.
The legal system is based on English common law, with a Court system independent of the islands administration managed by the Chief Justice. Appeals are made to the Privy Council in the United Kingdom.
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| CORPORATE REQUIREMENTS |
The Cayman Islands are very popular for the establishment of offshore companies and permit both Exempted Companies and Foreign Companies established as non-Cayman businesses.
All companies that transact business within the Cayman Islands are required to obtain a Trade and Business License and may require a local control license. The Registration and Control of Companies is governed by the Companies Law (Cap.22) enacted in 1961 and as amended and supervised by the Registrar of Companies.
A Cayman Island Company can be formed by one or more individuals that place their name on the company's Charter and Articles and submit them to the Registrar of Companies. No public record is maintained of the names of an entities shareholders or directors.
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| LOCAL INFRASTRUCTURE |
The Cayman islands possesses the highest standard of living of all the Caribbean islands. The economic strength of the islands is fro tourism and mostly a result of the islands role as an international financial center. Revenue is generated through a 20% across the board import duty. The islands are not party of any tax treaties.
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