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Article: Cayman Islands Companies.(Companies may be registered in Cayman Islands as exempted, ordinary (subdivided into resident and non-resident) and foreign)
- Article from:
- Mondaq Business Briefing
- Article date:
- June 11, 2003
CopyrightCOPYRIGHT 2003 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Introduction
Companies may be registered in the Cayman Islands as exempted, ordinary (subdivided into resident and non-resident) and foreign. There were approximately 65,000 companies registered in the Cayman Islands at the end of 2002 of which 70% were exempted, 22% ordinary non-resident, 6% ordinary resident and 2% foreign. This article is intended to be an introductory summary only and focuses primarily on exempted companies. It is not intended to be a substitute for legal advice, which should always be obtained prior to incorporating any type of company.
The governing legislation is the Companies Law, Cap.22 (as revised and amended) (the "Companies ...