Set up your Blockchain, FinTech, Internet, Technology or Media Company in Tech City Cayman Islands.
Set up an offshore company in the Cayman Islands, from the United States.
Cayman Tech City is a special economic zone by Cayman Enterprise City, located in Grand Cayman. Just one hour’s flight from Miami and three from New York City, Grand Cayman is the perfect place for United States citizens to set up an offshore business. Our vibrant, community of innovative companies and entrepreneurs from across the globe, has rapidly grown into a significant tech cluster, which houses some of the world’s leading blockchain and FinTech companies.
For Companies in Tech, Cayman is the Ideal Head Office
For American citizens, there are numerous benefits of setting up your business, or registering a branch, in Cayman Tech City.
“Cayman is a tremendous place to do business. In Cayman, you have a very friendly tax regime, you have no debt, very little crime and a really good location. You have access to North American markets and South American markets. Cayman really has some significant advantages in that sense.” – Mike Philbrick, co-Founder and President of ReSolve Asset Management
Favourable tax benefits such as no local Corporate Tax, no Income Tax, no Payroll Tax, and no sales Tax make operating globally from Cayman very attractive. Additionally, companies within Tech City Cayman Islands benefit from generous concessions granted by the Cayman Islands Government, designed to incentivize businesses to set up and operate physical staffed offices here in Cayman.
Offshore intellectual property
Many of our community member companies are developing cutting-edge software, blockchain technology, artificial intelligence technology, drone technology and the latest in green tech and environment technology, so having their Intellectual Property offshore, where there is no Capital Tax also can provide major benefits. Businesses within Cayman Tech City have found that operating from a tax-neutral platform has not only made them more profitable, but has also accelerated rapid growth.
Thriving tech community
The start-ups and smaller enterprises within Tech City have benefited from being part of this tech community that has brought them great cross marketing and collaborative opportunities with other community members. Being part of the Cayman Tech City gives you the opportunity to be surrounded by other business owners who have the intel and experience that can help you to advance your own business.
Overcome the United States H1-b visa problem
If the recent USA H1-b visa situation has affected your plans, coming to the Cayman Islands is a great way to bring your critical employees close to the United States, without keeping them in their home country.
What Kind of Businesses Are Based in Cayman Tech City?
Companies in Tech City Cayman Islands range from start-ups, to mid-sized enterprises to large international corporations, which run their globally focused companies from Cayman. Tech City comprises three business parks which include:
Our clients’ special economic zone companies (SEZCos) are in the following business sectors:
- Environmental Technology
- Natural Sciences
- Bio Engineering
- Life Sciences
- Electronic Publishing
- Digital Marketing
- Traditional Marketing
- Film Companies (all sectors)
- Marketing Research
- Web Portals
- Software Development
- Computer Programming and Related Services
- Satellite Technologies
- Data Processing
- Data Services
The Future Is Bright for Digital Cayman
To help support the growth of digital and technology focused companies, Cayman Tech City, signed on to a five-year founding sponsorship commitment to the Digital Cayman initiative. This strategic partnership, valued at $250K, has enabled the launch of the non-for-profit industry body and will ensure the initiative’s longevity.
“The CEC mission is to help diversify Cayman’s economy by attracting foreign direct investment and by developing a vibrant business community where innovation and entrepreneurship thrive. Supporting Digital Cayman aligns seamlessly with our goals and we are excited to help drive this initiative forward. We believe that the initiative will play a significant role in the further development of Cayman’s innovative ecosystem and will positively impact Cayman’s economy.” – Charlie Kirkconnell, CEC’s Chief Executive Officer and Digital Cayman Executive Member
As part of the commitment, CEC is also providing Digital Cayman members with opportunities to participate in its Enterprise Cayman outreach initiatives, such as internships, mentorships, and school outreach programmes. These established high-impact initiatives are actively connecting industry experts with Cayman’s up-and-coming digital professionals and entrepreneurs – an important component in the strategic development of talent within the Cayman Islands and in the future diversification and development of Cayman’s digital economy.
Cayman Tech City FAQs
You can find more of our FAQs here.
It varies from law firm to law firm, but will generally range from US$3,500 to US$5,500 including the Government fees and law firm’s formation charges to provide a Registered Office for you. Please note that these figures do not include additional legal fees or billable hours that may be required outside of the standard establishment of a SEZCo. We are happy to make an introduction to a local law firm who can assist you in getting your company established if you are not already working with one.
In order to set up within Cayman’s special economic zones and take advantage of the available tax benefits and zone concessions, a company is required to maintain a physical presence in the SEZ and operate as a going concern in its designated industry. Further, where the company’s business activities in Cayman are within the scope of Cayman’s International Tax Co-operation (Economic Substance) Law, the company will also need to satisfy an economic substance test.
Generally, the entire process of getting your company registered, business licence and work permit takes 4-6 weeks based on how quickly you can get the paperwork completed. All of this can be done remotely from anywhere in the world and you do not have to be in Cayman to apply.
There is no minimum capital requirement to incorporate a SEZCo.
Yes, exempted companies can be converted for a Government fee of CI$600.00. This can be done by contacting your legal service provider.
Yes – your spouse and children can become dependents on your Zone Employment Certificate and there is no extra cost for this. Please note that children are considered ‘those under 18 years old or can be up to 24 years old if still in full-time education’. All children 5 years and older must be enrolled in a private school or provide the Department of Education Services with a home schooling programme for approval.