| Cayman Islands | ADGM |
How much does it cost? | Incorporation fee: USD 2,889.02 Renewal fee: USD 2,350 | Incorporation fee: USD 3,296 Renewal fee: USD 3,195
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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? | Yes - click here to read more. | Yes - click here to read more. |
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. A nominee can be appointed. |
Are multiple classes of shares allowed? | Yes | Yes |
Are there restrictions on shareholders or capital? | None | None |
Law | Common Law | Common Law |
Other points to consider | All companies in the Cayman Islands renew on 31 December regardless of the date of incorporation. | Opening a bank account in the UAE requires a UAE identity card. |

Written by Saoirse Lynam
Updated over a week ago