Country Guide Cayman Islands the Cayman islands is the leading jurisdiction for international hedge funds, the second largest domicile in the world for captives, the number one domicile for healthcare captives and a leading jurisdiction for banking, trusts, capital markets and fiduciary services.

Fundsthe Cayman islands is the leading jurisdiction for hedge funds with over 11,000 regulated funds (ireland is second with 2,500) with U.S. managers investing about 75% of net assets from Cayman domiciled funds.

Insurance and reInsuranceCayman is the second largest captive insurance domicile (Bermuda is largest), leader for healthcare captives and insurance-linked securities and a premier choice for non-traditional reinsurance companies.

cayman Islands regIstered companIesOver 100,000 companies are registered here. (Other jurisdictions have been challenged by situations such as the Panama Papers due to client quality issues.)

InternatIonal bankIngCayman has a well-established, robust, banking regime supported by world-class anti-money laundering regulation.

capItal marketsPreferred jurisdiction for capital markets—broad familiarity with ratings agencies, professional infrastructure, creditor friendly insolvency regime and a robust legal system.

FIducIary servIcesStrong fiduciary services market and the inclusion of a Professional director can be an extremely cost effective way for investment managers to look out for the interests of their investors and stay abreast of and compliant with local legislation.

geography Location: the Cayman islands is a British overseas territory located in the western Caribbean Sea, close to Cuba, Jamaica and Miami.

Area: 264 sq. km

Time zone: Eastern Standard Time (EST)

population 60,000

language(s) english

economy Financial services and tourism

capital city George town, situated on Grand Cayman

currency Cayman dollar (Kyd) and United States dollar (USD)

political structure Stable

legal system Based on english common law

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exempt company

segregated portFolIo company (Spc)

exempt lImIted partnershIp

share capital

Minimum paid-up no minimum no minimum no minimum

Maximum authorized N/A N/A N/A

Usual currency USD USD USD

Permitted currencies no restrictions no restrictions no restrictions

domiciliation

Registered address Local registered office required Local registered office required Local registered office required

directors

Minimum number one one N/A

Minimum local not required not required not required

Corporate directors optional optional N/A

statutory

Annual filing Annual return Annual return Annual return

Company secretary optional optional N/A

Annual general meeting (AGM) Not a requirement. however AgMs and emergency general meetings (EgMs) can be held anywhere.

Not a requirement. however AgMs and EgMs can be held anywhere.

N/A

Re-domiciliation Possible Possible N/A

Financial administration

Audit required optional optional N/A

Filing of Annual Return required required required

tax

Tax rates 0% 0% 0%

VAT 0% 0% 0%

Tax treaties none none none

Other taxes N/A N/A N/A

government fees

Registry fee per Annum fee per Annum fee + fee for each underlying segregated portfolio

per Annum fee

License fee N/A N/A N/A

Incorporation process

Summary >> Service provider (vetting of beneficial owner, directors and shareholders)

>> unrestricted objects (powers of natural person)

>> regulator – Cayman islands Monetary Authority (CIMA)

>> Service provider (vetting of beneficial owner, directors and shareholders)

>> unrestricted objects (powers of natural person)

>> Regulator – CIMA

>> Service provider (vetting of beneficial owner, associated individuals and legal entities)

>> Regulator – CIMA

Time Usually within three-to-five business days. (Same day service is possible with payment of optional express fee.)

Usually within three-to-five business days. (Same day service is possible with payment of optional express fee.)

Usually within five-to-seven business days. (Same day service is possible with payment of optional express fee.)

other

Are shelf corporations available? yes N/A N/A

Types of Legal Entities

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CT IS A WOLTERS KLUWER BUSINESS © 2019 C T CORpORATION SySTEM AND/OR ITS AffILIATES. ALL RIghTS RESERvED.

This information is not intended to provide legal advice or serve as a substitute for legal research to address specific situations.

28 Liberty Street | New York, NY 10005 | 855.444.5358 | ctcorporation.com/global-corporate-services

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CT IS A WOLTERS KLUWER BUSINESS © 2019 C T CORpORATION SySTEM AND/OR ITS AffILIATES. ALL RIghTS RESERvED.

This information is not intended to provide legal advice or serve as a substitute for legal research to address specific situations.

28 Liberty Street | New York, NY 10005 | 855.444.5358 | ctcorporation.com/global-corporate-services

global entity management servicesq Company/Partnership and Fund Formationq RegisteredOfficeq CorporateSecretarialq IndependentDirectorshipServicesq Nominee Shareholderq YachtRegistrationandRepresentationPersonq Conversionfilingq CIMA De-registrations, Terminations, Strike offs and

Voluntary Liquidationsq ManagementreportinginaccordancewithIFRSandGAAPq Consolidatedaccountspreparationandreportingq Investorreportingforcloseended/privateequity

companiesandfundsq Accountingandbookkeepingq ComplianceOfficerandMoneyLaunderingReportingOfficerq InternationalTaxCompliance(FATCA/CRS)q BeneficialOwnershipReportingq SubstanceServices

global transactional servicesq Healthcheckq BankruptcySearch—Individualq CivilSearch—Individualq CriminalSearch—Individualq InternationalEmbargo—Individualq Tax-exemptCertificate

CTServiceOfferings–Cayman Islands