Types of Companies2018-08-06T05:23:02+00:00
Types of
Companies
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Statistics
Registration
& Annual Fees
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of Registration
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Companies
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Types of Companies

There are many ways to structure your company in the Cayman Islands, and as such understanding the categorization or type of company you open is critical to your success.

Associations
Not for Profit

An association not for profit is not required to publish its name, or to send a list of its members, to the Registrar or to pay an annual fee.

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Exempt
Company

Where the proposed activities of a company are to be carried out mainly outside of the Cayman Islands – offshore – the registrants can apply for registration as an exempted company pursuant to PART VII of the Companies Law.

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Foundation
Company

A foundation company is a separate Legal entity which may be formed by any person (the “founder”) for any lawful object, which need not be beneficial to other persons, provided it falls within the wide parameters permitted by the legislations (Foundation Companies Law, Companies Law, etc.).

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Limited
Liability Company

Where the proposed activities of a company are to be carried out mainly outside of the Cayman Islands – offshore – the registrants can apply for registration as a Limited Liability Company (“LLC”) under the Limited Liability Companies Law.   Like companies under the Companies Law, this type of company has separate legal identity therefore the members of the company cannot be held personally liable for the company’s debts or liabilities.

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Non-Resident
Company

The non-resident company is an alternative to the exempted company.  Such companies must maintain at their registered office, open for public inspection, a register of their past and present members.

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Overseas
Company

An overseas company (usually referred to as a foreign company) is a company incorporated outside the Cayman Islands. Registration pursuant to Part IX of the Companies Law is necessary to enable overseas companies to hold land or carry on business in the Cayman Islands, or to act as the general partner of a Cayman Islands Exempted Limited Partnership.

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Resident
Company

An ordinary resident company carries on business within the Cayman Islands.  Resident companies must maintain at their registered office, open for public inspection, a register of their past and present members.

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Special Economic
Zone Company

A special economic zone company is authorised to carry on business in a special economic zone pursuant to any Law in force in the Islands.  The Companies Law (PART VIIIA) permits the re-registration of existing exempt companies as special economic zone companies.

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Unlimited
Company

In the case of an unlimited company the liability of all its shareholders or members is unlimited.  Its members or shareholders have a joint, several and non-limited obligation to meet any deficiency in the assets of the company to settle outstanding debts in the event of the winding up of the company.

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