Running a
Photos courtesy of Rebecca Davidson, Kathleen Spencer, Guy Waller and Cayman Islands Chamber of Commerce
Business How to set up a business in Cayman, the legal formalities, trade and business licensing requirements, finding commercial office space, business services, computers and office supplies.
RUNNING A BUSINESS
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Establishing a Business - Legal Formalities - Funds & Investment Business - Cayman Enterprise City Trade & Business Licensing - Incorporation/Registration - Accounting & Auditing Firms - Corporate Services - Legal Services & Attorneys at Law - Independent Directors - Cayman
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Other Formalities - Work Permits - Employee Entitlements
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Business Services - Bookkeeping Services - Business Insurance - Office Supplies & Electronics - Disaster Recovery Services - Notary Public - Translation Services
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Setting Up An Office - Commercial Office Space
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CAYMANRESIDENT 2022
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ESTABLISHING A BUSINESS
As a well-regulated, international financial centre with a worldclass infrastructure and political stability, the Cayman Islands offers an ideal environment for businesses to flourish. As a result, the business sector in Cayman is booming. Cayman’s regulatory framework has been continuously enhanced since 2020 to ensure that the Cayman Islands remains aligned with international standards and expectations. In July 2019 the Organisation for Economic Co-operation and Development (OECD) deemed Cayman’s tax regime as “not harmful” to other countries. With a well-developed common law system based on English law, and a local base of world-class corporate service providers, many international businesses have chosen to incorporate or register in Cayman. This chapter is your complete business set-up guide. LEGAL FORMALITIES A business in Cayman can be run as a sole trader operation, a partnership or a company. It is also possible for a foreign company to register a branch in the Cayman Islands so as to be permitted to operate locally. The main distinction is that sole traders and general partners of an unregistered partnership firm have unlimited liability to third parties doing business with them, whereas the shareholders of a company typically have limited liability to third parties doing business with the company. The differences in, and suitability
