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Frequently Asked Questions

How long does it take to form an entity in the Cayman Islands

Pillar Global can establish a Cayman Islands company within 24 hours of receiving the required documentation fully completed and certified. We can check whether your choice of name is available for registration and can reserve the name until you are ready to proceed.

Is it mandatory to have a Cayman Islands Registered Office for my Cayman entity?

Yes, all entities registered in the Cayman Islands must have a local registered office. There are many service providers, and it is best to work with an experienced team to ensure all formalities are dealt with and your entity remains fully compliant with local regulations.

Once my entity is formed, will I have to make any annual filings or pay annual fees?

Yes, in addition to filing an annual return, you may need to file certain annual notifications and filings relating to FATCA/CRS, Economic Substance, Beneficial Ownership with the registrar of companies and the Cayman Islands Tax Information Authority. For regulated entities, certain filings may also be required with the Cayman Islands Monetary Authority. Our experienced team can assist with all required filings so you won’t have to worry and can focus entirely on your business operations.

What are the benefits of having a Cayman Islands based Director

There are several reasons to appoint a Cayman Islands director to your company or fund.

The Cayman Islands have an experienced, globally educated and highly credible pool of financial services directors. This level of expertise provides independence and objectivity to a board.
A director based in Cayman provide local management to a board and contributes towards the Company having substance in the Cayman Islands and demonstrates local “mind and management” decision making to satisfy elements of the economic substance test of a Cayman Islands company.
A local Director is readily available in local time zone to communicate with regulators, financial institutions and other key stakeholders as the primary point of contact for the company.

Does my regulated fund require annual audits?

Yes, Cayman Islands regulated funds are required to have an annual audit from an approved auditor, with local sign-off. We can recommend audit firms to assist with this requirement.