The Low-down on the Economic Substance Law in Cayman

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The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”) came into effect on 1 January 2019.

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Hermes Corporate Services Ltd. www.hcsoffshore.com enquiries@hcsoffshore.com +1 (345) 749 7493

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Hermes Corporate Services Ltd. (Hermes) is a leading offshore provider of international incorporations and corporate services . With its team of highly experienced professionals and rigorous processes, Hermes has an excellent track record of providing company incorporations in the Cayman Islands and the British Virgin Islands (BVI). Hermes is regulated by the Cayman Islands Monetary Authority and maintain strong alliances with leading law firms and agents in the BVI which enables Hermes to assist clients with incorporations in the BVI. The Hermes vision is to provide international incorporations and corporate services at the highest level of technical excellence and responsiveness, with a strong commitment to our clients. Read More About Us

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Company Incorporation Services Post Incorporation Support Services On-going Corporate Services Striking-Off and Liquidation Services Offshore Corporate Services

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Economic Substance requirements for Cayman Islands companies The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”) came into effect on 1 January 2019. The Economic Substance Law will be implemented, including by further regulations and guidance to be provided, by the Cayman Islands Tax Information Authority (“TIA”). All international offshore financial centres (including Bermuda, BVI, Jersey, Guernsey and Hong Kong) already have or will implement similar legislation . Read More To whom does the new Economic Substance Law apply ? Which Cayman entities are not affected by the Law ? Main Requirements and Obligations of the Economic Substance Law. Annual Reporting. Penalties for Non-compliance.

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With effect from 19 October 2017, it is possible to incorporate Foundation Companies in the Cayman Islands. Foundation Companies can now be incorporated in the Cayman Islands Read More Key Features of Foundation Companies Conversion or Formation Separate legal personality Capital Structure Secretary Director Tax Status Constitution Objects/Purpose Capital Requirements Dispute Resolution Membership Supervisor Key Benefits of Foundation Companies as special purpose vehicles (SPVs) in finance transactions; as charities; re- organisation of assets within family offices; as protectors or enforcers (in relation to other trusts or fiduciary structures); as mechanisms within private trust company structures.

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Address : Fifth Floor, Zephyr House, 122 Mary Street, George Town, P.O. Box 31493 Grand Cayman KY1-1206 Cayman Islands www.hcsoffshore.com enquiries@hcsoffshore.com +1 (345) 749 7493 Contact Us

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