An ordinary non-resident company is one that has been granted non-resident status through an application to the Minister of Finance through the Registrar of Companies and must state that the company does not intend to carry on business within the Cayman Islands. The company may deal in shares of exempted companies, foreign corporations and partnerships, but may only carry on such other business in the Cayman Islands as is necessary for the furtherance of its foreign business.
Such companies must maintain at their registered office, open for public inspection, a register of their past and present members
They must also report annually to the Registrar, giving the names and addresses of members, directors and the amount of paid-up capital.
A Non-resident company may convert to an ordinary resident company or to an exempted Company.
This type of company is required to have its registered office with a CIMA licensed service provider.
The most convenient way to incorporate this type of company in the Cayman Islands is to engage one of the professional firms licensed for this purpose. These firms can provide such services as: registered office; nominee shareholders; directors and other officers; and management of the company on the instruction of the beneficial owner(s)