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Cayman Islands
NEWS
  Cayman firm collapse has Aus tax authorities interested on 08/09/2010
  New Islamic finance instructions in France on 06/09/2010
  Ireland and the multinationals on 03/09/2010
  Offshore centres back Hawala deals on 30/08/2010
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FACT FILE
Location The Cayman Islands are in the western Caribbean about 150 miles south of Cuba, 460 miles south of Miami, Florida and 167 miles northwest of Jamaica.
Time Zone Eastern Standard Time (Nov–Feb) Central Standard Time (Mar–Oct).
Population App. 50,000.
Capital George Town, Grand Cayman.
Airport Owen Roberts International Airport.
Language English.
Currency Cayman Islands dollar (CI$) Fixed at CI$1.00 = US$1.25.
Dialing Code +345.
Centre's Expertise Investment funds, capital markets, banking, trusts, etc.
Political System Parliamentary democracy with judicial, executive and legislative branches.
Legal System Common law and statute.
Personal Income Tax None.
Corporate Income Tax None.
Exchange Restrictions None.
Tax Treaties Netherlands Antilles, France, New Zealand, Netherlands, Ireland, United Kingdom, Denmark, Faroes, Finland, Greenland, Iceland, Norway, Sweden and the United States of America.
Permitted Currencies No restrictions.
Minimum Authorised Capital No restrictions.
Minimum Share Issues One share issued to the subscriber on incorporation by operation of law. A Cayman Islands company must always have at least one member.
Shelf Companies
Incorporation Time Scale 24 hours for an express incorporation.
Incorporation Fees Fees start at approximately US$732 for an Exempted Company.
Annual Fees Fees start at approximately US$732 per annum.
Minimum Number One. Two if regulated.
Residency Requirements None.
Corporate Directors No requirement.
Meetings/Frequency None.
Disclosure No public disclosure for exempted companies.
Bearer Shares Allowed but with very strict custody rules.
Minimum Number One share issued to the subscriber on incorporation by operation of law. A Cayman Islands company must always have at least one member.
Public Share Registry None for exempted companies.
Meetings Frequency None.
Annual Return None.
Audit Requirements None unless regulated.
Registered Office Must be located in the Cayman Islands.
Domicile Issues Transfer of domicile is permissible.
Company Naming Restrictions Yes – no two companies may have the same name and certain other restrictions as specified in the Companies Law (as amended).
ARTICLES
Secured financings involving BVI and Cayman companies – taking and registering security
  Ashley Davies offers a practical guide to secured financing in Asia using a BVI or Cayman Islands company. (31/08/2010)
Private Equity Conflicts of Interest: A Delicate Balancing Act
  Rolf Lindsay and Sheryl Dean of Walkers lead private equity practitioners with potential conflicts of interest to safe ground (02/06/2010)
Topics from the Tropics
  Derek Sambrook with an engaging and incisive take on the modern financial world – this time focussing on the role of trust officers within it (02/06/2010)
Cayman Funds: Lessons Learned as Hedge Fund Investments Surge
  The experience gained out of the turmoil of the financial crisis looks set to catapult the Caymans into a very positive future. (09/02/2010)
Cayman Islands: Distressed funds adapt to survive
  After a challenging year for the hedge fund industry, Mark Lewis identifies the various techniques that can be applied to help the funds through this current storm. (06/01/2009)
The Cayman Islands: The good, the bad and the hopeful
  Mark Lewis and Guy locke examine the causes of the sub-prime crisis and despite this, report on a good year for Cayman’s hedge fund industry. (08/01/2008)
The Cayman Islands:Thrive in the Islands
  Grant Stein charts the progress of the funds sector in the Cayman Islands (07/01/2007)
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