Tax in Cayman Islands 1

Tax in Cayman Islands

If a foreign company is interested in doing business in Cayman Islands then it has to be registered with the department of company registrar as one of the foreign companies and it should have a local address of business as well as a local agent who lives in Cayman Islands. If any company has to be incorporated in Cayman Islands then AbroadBiz will be at your service to support you in every step to register the company and provide you a local agent.

Accounting, Filing and Auditing Requirements

As per the standard process, there is no mandatory requirements for the auditing the company accounts, managing the books of accounts of the company, and presenting the financial statements and books to the shareholders or the members of the company for purposes of tax in Cayman Islands. However, the extent of showcasing the books of accounts and financial details to the shareholder is actually defined in the Articles of Association certificate or the LLC Agreement or as defined by directors/ managers.
Although it is not mandatory for purposes of tax in Cayman Islands but as per the custom it is important that all the companies maintain the books of accounts, end-to-end expense statements of the company, profile & loss, assets & liabilities, sales & purchase, receipts & bills, etc. so that it gives true and valid view of issues of tax in Cayman Islands to the state of the company affairs.

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