Cayman Islands Registered Agent
We can provide Licensed Registered Agent services in the Caymans for your IBC to ensure your company remains in Good Standing at the Companies Registry.
We draft the resolution of the directors to change the address of its Registered Office and Registered Agent.
The process of transferring registered agent is fairly simple and can be summarised:
- Provide KYC/AML/Business Activity information on the existing company, its directors, shareholder(s) and beneficial owner(s) [if different to immediate shareholder(s)] – this point is a regulatory requirement.
- Transfer books and records to new service provider.
- Pay the annual service provider fees and government fees retainer.
- Pass resolution of directors to transfer the registered office to a new agent and file it with the Registrar of Companies.
- Execute the registered office services agreement with the new provider – the transfer becomes affective when acknowledged by Registrar of Companies.
- Penalties apply for a late filing of registered office change and late filing of annual return and payment of government fees.
Our responsibility fees of acting as registered agent is US$1,000 per annum for an unregulated entity and US$1,500 per annum for a regulated entity.
Government fees and disbursements are specific to a type of entity, authorised share capital level and I can provide those once you specify your company details. As an indication and on a basic company level, these fees are around another US$1,000 per annum and can be much more for a regulated/licensed business for example.
Finally, there is a small government fee associated with the transfer of the registered office notification and your client may also incur legal fees if they use lawyers to draft the resolution for the transfer and to review the service contract(s).
When appointed, System Day will facilitate this transfer process entirely and can also provide the transfer resolution/service contract wording free of charge once we collect all requested document.
Caymans Registered Agent Duties
The registered address is the legal address of your Caymans company, The Registered Agent is responsible for safe custody and maintaining of the Memorandum and Articles of Association, the Register of Members, the Register of Directors, copies of Resolutions, notices and filings.
It is the duty of the Registered Agent to keep these documents up-to-date and available for inspection by the directors and shareholders of your company.