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

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.