Cayman’s Ministry of Financial Services announced today, November 1, 2023, that annual company fees payable to the Registrar of Companies in the Cayman Islands will increase from January 1, 2024.

The Ministry explained that “These fees have remained largely unchanged over the last decade,” and the increase is now being made “In light of Government’s investments to improve the Companies Register’s service delivery over the last decade, significantly in technology.”

A summary of the increases (In Cayman Islands Dollars) provided by the Ministry is below.  (According to the website of the Registrar of Companies, the conversion rate to be used for payment in United States Dollars (US$) is 0.82 (US$1.00 = CI$ 0.82).)

1. Exempt Companies
   • Lower to upper share capital range of 0 to 42,000: from $700.00 to $825.00.
   • Lower to upper share capital range of 42,001 to 820,000: from $1,000.00 to $1,125.00.
   • Lower to upper share capital range of 820,001 to 1,640,000: from $1,984.00 to $2,109.00.
   • Share capital above 1,640,000: from $2,568.00 to $2,693.00.

2. Non-Resident Companies
   • Lower to upper share capital range of 0 to 42,000: from $675.00 to $800.00.
   • Share capital above 42,000: from $915.00 to $1,040.00.

3. Foreign Companies
   • Annual fees increase from $1,350.00 to $1,550.00.

4. Limited Liability Companies
   • Annual fees increase from $800.00 to $1,000.00.

5. SPC Cells
   • Fees will increase from $300.00 to $400.00 (up to a maximum of $6000.00 or 15 cells).

 

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