Corporate Services
What Are Corporate Services?
‘Corporate Services’ is basically a broad brushstroke term used to define services provided to corporations and individuals with respect to the business they engage in. In general terms, these services are activities undertaken to consolidate industry-wide needs regarding specialized knowledge, support services, technology and best practices. Corporate services can be conducted internally within a business via a specific department or be provided to third parties as a part of a suite of services in a traditional client/provider type relationship. Accounting houses, law firms, advertisers, IT companies, tax advisors and companies that specialize specifically in company formation all offer some type of ‘corporate services’ to corporations worldwide. In the case of Cayman Islands corporate service providers – they are not necessarily providing a product – their ‘product’ then is the service offered supporting individuals and companies by providing assistance in their incorporation and registration of an offshore company, trust or entity. Plainly put, corporate services are usually thought of as those activities that assist in company formation and incorporation as well as assisting in helping these companies comply with local laws, regulations and statutes and in the keeping of the company in good standing in its home nation as well as when conducting business abroad. There are many companies in the Cayman Islands that specialize in corporate services, from legal and industry-specific perspectives. Company formation, compliance and future representation are the bread and butter of this industry with respect to our island nation.
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What Specifically Do Cayman Islands Corporate Service Providers Do For Me?
Cayman Islands corporate service providers can do many things for you and your business. It is important to note, initially, that one should always make sure that their chosen service provider is licensed locally and accredited/qualified to undertake the tasks you require. We will provide a list of reputable Cayman Islands service providers a bit later. Additionally, most basic corporate services should cost under $2000 not including the fees incurred when you file with the Cayman Islands Government. Incorporation and company formation are the two main services offered but corporate service providers can do many other things for you and your business. These could include the filing of your annual returns, providing certified documentation, drafting your company’s minutes and assisting with some director services.
Maintaining statutory registers, corporate restructuring and handling official documents related the business are also services you can expect to be offered by these providers. In short, basically anything required to form a company and keep it legally in good shape could be expected to be handled by a corporate services provider in the Cayman Islands. Each provider will provide a different suite of services of course, so it is important for you to speak to a few to identify exactly what you and your company need before you engage a provider. Most will do an initial consultation via in-person meeting, phone call or email exchange to assist you in identifying what you need and the best way to go about achieving your goals.
Corporate Service Providers In The Cayman Islands
Here is a short list of vetted, reliable corporate service providers in the Cayman Islands. There are many others but these firms are well known, reputable, experienced and can assist you with a wide range of the aforementioned corporate services. If you are planning on establishing your offshore business presence in the Cayman Islands it is highly recommended that you seek the consultation of the professionals that work for these firms.
Have questions about Corporate Services in the Cayman Islands? We’re here to help. Feel free to contact us here and one of our professionals will help you with any questions you have about this or any other Cayman Islands related queries.
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