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Cayman
Comparing Cayman Islands and ADGM
Comparing Cayman Islands and ADGM
Updated over a week ago

Cayman Islands

ADGM

How much does it cost?

Incorporation fee:
$3,250

Renewal fee: $2,990

Incorporation fee:
$3,250

Renewal fee: $3,195

How long does it take?

5 to 7 working days

5 to 7 working days

What is the process?

Online incorporation on the Clara platform. Purchase the formation package and submit the KYC documents on Clara.

Online incorporation on the the Clara platform. Purchase the formation package and submit the KYC documents on Clara.

Is my company required to carry out certain activities to demonstrate economic substance?

What are the tax considerations?

Tax free jurisdiction

Tax free jurisdiction

Am I required to have a director who is a resident in the jurisdiction?

No

No. However a UAE resident or GCC National is required to be appointed as an Authorised Signatory. Clara can provide a nominee service for an annual fee.

Are multiple classes of shares allowed?

Yes

Yes

Are there restrictions on shareholders or capital?

None

None

Law

Common Law

Common Law

Audited Accounts

Not required unless:

  1. The company activity is regulated by Cayman Island Monetary Authority; or

  2. The company is acting as a private fund.

Not required unless:

  1. Revenue of the Group exceeds USD 13.5 million; or

  2. The employee count of the Group exceeds 35 employees.

Other points to consider

All companies in the Cayman Islands renew on 31 December regardless of the date of incorporation.

Must have nexus to the GCC. An SPV must be used to hold at least one asset in the GCC (shares or other assets) or 25% of the shares in the SPV will be owned by shareholder(s) in the GCC.

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