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The Cayman Islands Investment Bureau
provides a single source of
customized information, investment
marketing materials and services to
Cayman businesses, as well as
potential investors in the Cayman
Islands. We provide comprehensive
information of interest to potential
investors, designed to assist in the
site selection process. Our
professional staff provides a broad
range of consultation, liaison, and
coordination services, helping
investors proceed smoothly with
their ventures in the Cayman
Islands. With an investment climate
supported by a sound regulatory
framework, modern infrastructure,
high quality telecommunications and
an extensive professional workforce,
the Cayman economy is dynamic and is
fully integrated into the world
economy. The registration of
companies is governed by the
Companies Law (2004 Revision), and
all companies must be registered
with the Registrar of Companies.
Companies can be formed with one
shareholder and with no minimum
capitalization requirements (except
for Exempted Limited Duration
Companies). Client privacy is
protected by the fact that the
Registrar can only release the name
and type of company, its date of
registration, the address of the
registered office and the company’s
status. Disclosing any other
information is prohibited except
where assistance to law enforcement
agencies is required. Businesses
that intend to operate in the
jurisdiction are typically
incorporated as a 'Resident
Company'. Resident Companies are
companies carrying on business in
the Cayman Islands, which must
report annually to the Registrar and
which can hold land. As an
alternative, companies that are
incorporated outside of the Cayman
Islands that wish to carry on
business locally can register as a
'Foreign Company'. All businesses
and professionals operating in the
Cayman Islands must be licensed
under the law relevant to their
industry. Trade and Business
Licenses are administered through
the Trade and Business Licensing
Board of the Immigration Department
as specified under the Trade and
Business Licensing Law (2003
Revision). The fees for license
application and annual renewal
depend on the broad nature of the
business and/or profession. Certain
types of business premises, such as
restaurants, also require inspection
by the Department of Environmental
Health. In addition, foreign-owned
or controlled companies doing
business in the Cayman Islands must
obtain a license under the Local
Companies (Control) Law (1999
Revision). A company is considered
foreign owned if less than 60 per
cent of the equity is owned by
Caymanians or if less than 60 per
cent of the board of directors is
Caymanian. This license has a
maximum duration of 12 years, but a
longer period may be approved by the
Governor.
Companies operating in the financial
services industry must apply for the
license relevant to its industry
from the Cayman Islands Monetary
Authority (CIMA). CIMA is
responsible for processing
applications, regulation and
supervision of the following types
of businesses Banks and Trust
Companies, Insurance Companies,
Fiduciary Services (Companies
Management, Corporate Services,
Trust Companies in of companies
without a banking license)
Investment & Securities Services
(Mutual Funds, Mutual Fund
Administrators, Securities
Investments Businesses). Hotel
Licenses: - Hotels seeking to
operate in the Cayman Islands must
apply for a hotel license from the
Hotel Licensing Board under the
Tourism Law (1995 Revision). This
process is administered through the
Department of Tourism. A Trade and
Business License is not required,
but a LCCL is required if the level
of Caymanian participation does not
meet the threshold stated in law.
Telecommunications and Radio
Licenses: - The Information and
Communications Technology Authority
(ICTA) is an independent statutory
Authority which is responsible for
the regulation and licensing of
Telecommunications, Broadcasting,
and all forms of radio which
includes ship, aircraft, mobile and
amateur radio. The ICTA conducts the
administration and management of the
.ky domain, and also has a number of
responsibilities under the
Electronic Transactions Law 2000. A
Trade and Business License is not
required for a business licensed by
the ICTA, but a Local Companies
(Control) License is required if the
level of Caymanian participation
does not meet the threshold stated
in law.
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