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.
1 500 EUR*
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:
Lack of reporting
The high degree of privacy
Remote account opening
Thus, opening a bank account in the Cayman Islands can be convenient and profitable.
What documents are needed?
Before the Cayman Islands bank account opening, you need to prepare a package of documents. It differs depending on whether an individual or a legal entity opens the bank account.
For individuals, a package of documents for opening a bank account will be as follows:
- Dentity card (passport, residence permit, other documents).
- Confirmation of residential address.
- Taxpayer identification number.
- Resume (CV).
As for legal entities, in order to conduct trading activities using an offshore account in the Cayman Islands, you will need the following documents:
- Company registration documents.
- Identity card of the director and shareholders of the organization.
- If a manager opens the bank account, you will need the manager’s passport and a power of attorney issued by the director.
- Confirmation of the residential address of the director/shareholder/manager who opens a bank account.
- Agreements with partners.
- Confirmation of the origin of funds.
By providing this package of documents, the client will be able to open a bank account in the Cayman Islands with a low probability of refusal.
Stages of opening an account
Services provided by Lawtter Solutions
Our company offers clients its services for opening bank accounts in the Cayman Islands. In the first stage, the client can order a consultation and receive answers to all questions. The procedure for registering a bank account in the Cayman Islands is as follows:
Selecting a suitable bank from the list of organizations that provide services to non-residents
Preparation of a package of necessary documents
Submitting an application to open an account
Obtaining the necessary documents and account access
Clients can open an account with one of the Cayman Islands banks of their choice. The two largest financial institutions are as follows:
- Caledonian Global Financial
- Altajir Bank.
You can request the services of Lawtter Solutions by contacting us in any way convenient for you.