Steps:
Log in or register via app.clara.co/.
To start the incorporation process, click ‘Add Company” and choose ‘Form a new company’, selecting Cayman Islands as the jurisdiction. Once you have reviewed and agreed to the requirements you will be prompted to add the company name and shareholder and director information.
You will be prompted to provide information about the shareholders and directors of the company as well as information about the new company you are forming. Click here for more information.
Next please complete the checkout and submit your company formation.
The Clara team will review your submission and come back to you with any points requiring clarification. This process usually takes 2 to 3 working days, though it depends on the quality of the information provided.
Clara will submit the application to the Cayman Registrar. The Registrar normally between 5 to 7 working days from submission. We will update you once the application has been approved.
The application will be approved and you will receive a DocuSign request to sign the welcome pack.
Once signed, the incorporation is complete and the company documents can be viewed in the data room.
Please note that the timeline above depends on the quality of the data and documents provided. If everything is in order Cayman entities can usually be set up within 10 working days.
Be sure to contact Clara if any changes are required once your Cayman holding company has been formed (including changes to the personal details of the shareholders and directors).
Otherwise, Clara will contact you before the end of the financial year to initiate the renewal process. All companies in Cayman renew on the 31st of December regardless of when they were incorporated.