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Article: Cayman Islands Companies.
- Article from:
- Mondaq Business Briefing
- Article date:
- November 29, 2005
CopyrightCOPYRIGHT 2005 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 76,000 companies registered in the Cayman Islands at the end of 2004 of which 73% were exempted, 18% ordinary non-resident, 7% ordinary resident and 2% foreign. This memorandum 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 ...