More business fees increased

A number of government fees related to business management have been increased under the Cayman Islands Companies Law.

Most of the increases are charged to exempted companies as defined under the legislation. An exempted company registered under the law is one that carries on all of its business outside of the Cayman Islands.

The fee increases include:

An annual fee increase from $600 to $700 for an exempted company with a registered capital not exceeding $42,000;

An annual fee increase from $900 to $1,000 for an exempted company with a registered capital of more than $42,000, but not exceeding $820,000;

An annual fee increase from $1,884 to $1,984 for an exempted company with a registered capital of more than $820,000, but not exceeding $1,640,000;

An annual fee increase from $2,468 to $2,568 for an exempted company with a registered capital of more than $1,640,000.

In addition to the registration fee increases, which amount to $100 more per year regardless of the size of the company, business will pay more for other services.

Fees charged to companies that apply to be struck off the Cayman Islands companies register will increase from $50 per request to $75 per request.

Also registration of change of a company name will cost $100 per application rather than $75.

1 COMMENT

  1. We are going to scare away business. If we need more money to run the government what happened to the cruise ship dock that has been talked about for years and still nothing. Also we can bring is gambling for foreigners only at the Ritz or Dart’s new hotel and that will bring in a lot of money.

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