Harneys Cayman

Company Comparison Chart

Jurisdiction

General

Basis of legal system
Type of company
Tax on offshore profits
Exchange Controls
Redomiciliation Permitted1
Time to form
Shelf Companies available through Harneys?

Corporate Requirements

Minimum Shareholders
Minimum Directors

Corporate Administration

Bearer Shares Permitted
Location of board meetings
Corporate Directors Permitted
Administration

Local Requirements

Registered Office/Agent
Company Secretary
Director
Meetings

Required Filings

Directors
Shareholders
Beneficial Owners

Annual Filing Requirements

Annual Return
Audited Accounts

Government Costs

Min. Annual Statutory fee

Notes 1Government approval may be required on exit from certain jurisdictions  2Must be held by an approved Custodian.  3Can be a non-Cyprus resident.  4A sole director cannot serve as the company secretary. A body corporate cannot serve as the company secretary if the sole director is the only director of that body corporate.  5Information not available to public inspection.  6Audit requirements and exemptions exist under local law, seek clarification from local office or jurisdiction Key Facts sheet.  7There are additional filing fees for Annual Returns and other Registry filings.  8All companies are required to prepare accounts and to be audited by the auditors annually, but annual filing of such audited accounts only applies to public companies and guarantee companies.  9S130 of the Companies Act 1981 allows a company to appoint a secretary or resident representative, being an individual or a company ordinarily resident in Bermuda, in place of a director.  10Licensed entities must also file with the Bermuda Monetary Authority details of directors and shareholders and also audited financial statements. 

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