Cayman Islands Tax Haven - a profitable legal address for the company
There are many ways to optimize and reduce taxation for companies, but offshore companies are still the most convenient and profitable way. The bottom line is that the firm chooses a completely different country from which it conducts real activity as its legal address — and therefore can pay a minimum of taxes and submit the simplest reporting.
The Cayman Islands tax haven zone is one of the most popular and profitable options for doing business. For non-residents of the country, the Cayman Islands offer the most interesting business conditions - with the simple company registration process, since few documents are required for this.
Why can you consider the Cayman Islands tax haven profitable for registering a new company? When considering the island state as the legal address for the company, the following advantages take place:
Lack of direct taxes - non-resident firms may not pay tax contributions for 30 years, and when creating a partnership, tax exemption is provided for 50 years;
No need to provide reports - companies are not obliged to submit annual or accounting reports to the regulators of the Cayman Islands;
A high level of business security - Cayman Islands are very stable in financial and political terms, and in addition, in the territory of the country full confidentiality is maintained for non-resident companies;
International prestige - since the Cayman Islands tax haven zone has a good reputation in the world, firms with such a legal address are of positive interest.
It does not take much to register a company on the islands. The official bodies of the state need to provide only the statutory papers and registration documents of the company, with the information about persons managing the company.
It should be noted that the directors may be nominal in this case - the Cayman Islands do not impose restrictions on this way of managing the company. You will also need to hire someone who will become an agent of the company on the territory of the island state and will be able to represent the interests of the company to the official bodies.
Cayman Islands tax haven is a state with a well-developed banking sector, with a number of benefits for their owners. You can also manage a business registered in the territory of this country remotely.