Open an Account in the Cayman Islands

The Cayman Islands is a popular country for opening a bank account for legal entities. This offshore jurisdiction allows you to legally reduce the amount of taxes paid and also does not require disclosure of personal information. The conditions of bank account registration in this country are quite liberal. Lawtter Solutions offers its clients to open a bank account in the Cayman Islands on favorable terms. We provide legal support for opening a bank account for individuals and businesses.

The cost of the service

1 500 EUR*

Term for opening a bank account

1-3 months

Support

Multilingual

Account opening type

No personal visit

Opening an account

Basic information about bank accounts in the Cayman Islands

Both individuals and legal entities can open a bank account in Cayman Islands. This jurisdiction is used primarily for companies to open offshore accounts. An important aspect: if a non-resident intends to register an account in the Cayman Islands, then they do not have the right to operate on the territories of this country. Otherwise, they are required to pay taxes at the rate set for residents of the Cayman Islands.

 

There are no major taxes for non-residents in the Cayman Islands. Individuals and legal entities do not pay taxes on profits, property, or capital gains. You just need to pay the fees for banking services. On the other hand, the Cayman Islands is considered a gray area in some countries regarding taxation. This fact is important to consider.

 

 

Benefits of opening a bank account in the Cayman Islands

 

Several important advantages speak in favor of opening a bank account in the Cayman Islands. These include:

1

No taxes

If an organization does not carry out physical activities in the Cayman Islands, then it does not pay taxes.
2

Lack of reporting

Non-residents of the Cayman Islands are not required to file returns. This can be done voluntarily.
3

The high degree of privacy

If a company’s beneficiary, for whatever reason, wishes to remain anonymous, the Cayman Islands are a great place to do so. This jurisdiction has a closed register of beneficiaries.
4

Remote account opening

You can open a bank account remotely without the need for a personal visit to the bank.

Thus, opening a bank account in the Cayman Islands can be convenient and profitable.