How to establish a corporate entity in the Cayman Islands

1. Email : contactus@ims.ky Telephone : +1 (345) 949 4244 International Management Services Ltd ims.ky

2. About Us • Having been in business since 1974, we have amassed extensive experience in the establishment of Cayman structures and entities and can assist clients with matters ranging from the simple (such as incorporation of a holding company or establishment of a simple private discretionary trust) to the complex (such as assisting with the formation of a hedge fund, securitization, private trust company, limited partnership, or a charitable or philanthropic trust). • Our modern, spacious offices on the waterfront in the heart of George Town, Grand Cayman, house or staff and can comfortably accommodate clients and advisors for on-island meetings where necessary. ims.ky

3. Cayman Fund Administrators IMS has long been a pioneer in the world of services to offshore financial and other entities. We recognised early on the potential for the funds industry in the Cayman to grow the jurisdiction to become a premier financial centre, ranking only behind the likes of London and New York. We were one of the first providers of independent directors to hedge funds in the Cayman Islands and pride ourselves on being one of the premier firms in the space – many other providers of director services have modelled themselves on us. ims.ky

4. Cayman Fund Administrators In a nutshell, the Cayman Islands has ensured its strong position by providing a balanced regulatory approach with a legal system based on English common law, which, coupled with its inherent political stability has meant that the jurisdiction has been, and continues to be, attractive to domicile a hedge fund structure. Licensing and regulatory requirements do not require local custodians, investment managers or directors, as it is accepted that relevant stakeholders are suitably regulated or controlled either in or outwith the Cayman Islands. Bearing in mind that hedge funds are aimed squarely at professional, institutional and sophisticated investors, the law in the Cayman Islands does not place restrictions on investment objectives, risks, leverage or other commercial matters etc., provided the fund offering documents fully describe the same as well as the equity interests investors may subscribe for. Please view the other pages within this Cayman Funds section of our site to fully appreciate the benefits of domiciling your investment fund in the Cayman Islands with directors provided by IMS. To find out more about our fund services, and how IMS can assist you, please email us at contactus@ims.ky ims.ky

5. Cayman Fund Administrators • Our Services : • The provision of directorship and corporate governance services to funds and associated entities, including General Partners and SPVs by directors registered with the Cayman Islands Monetary Authority as Professional Directors. • Trustee Services to funds structured as Unit Trusts and/or to hold management/voting shares. • Incorporation and Registered Office Services. • Secretarial Services. ims.ky

6. Cayman Companies As a service provider licensed to provide full trust and corporate services, whether you are a private individual, an intermediary, a family office or an institutional investor, we can help you realise your objectives in setting up your offshore entity or structure in the Cayman Islands. Key Features of Cayman Island Companies The Cayman Islands has a robust and efficient regulatory framework, based on English common law, allowing for the incorporation and ongoing management of companies, with very few limitations in what activities the company can undertake. Many of the companies incorporated in the Cayman Islands are investment holding vehicles, sales distribution companies or even subsidiaries of foreign parents. The regularity framework has been streamlined so as to allow a company to be fully operational within 48 hours of receiving instruction (provided all regulatory and compliance requirements have been met). ims.ky

7. Cayman Companies • Just about any type of asset can be acquired and held by a Cayman Corporation. For instance: • Fixed Term Deposits • Listed Stocks and Securities • Stock in Private Companies • Real Estate and Commissions • Patents, Royalty Agreements and Contract Rights • Sea Going Vessels and Aircraft. Typical corporate requirements/features include • Nil corporate taxation • Minimum authorised share capital – US$50,000 • Minimum paid up capital – US$1 • Minimum number of Directors – 1 (does not have to be local) • Annual Filing of Company Return • No requirement for annual audits. • Location of meetings – anywhere ims.ky

8. Trust Services International Management Services Ltd, has been forming and managing Cayman Island Companies on behalf of its clients for over 35 years. We have developed a wealth of knowledge and leading expertise in this area and leverage this to the benefit of our clients’ needs on a daily basis. We currently provide services to in excess of 1000 individual client companies, many of which have been with us since we started! Trusts are among the most secure and versatile financial planning vehicles available, and are widely recognised internationally.Cayman’s trust law allows trust arrangements to be tailored to clients’ specific objectives. ims.ky

9. Trust Services • We work closely with all local law firms, and can therefore provide a wide range of trust deeds to suit our clients’ requirements.These trust deeds can be tailored for individual requirements and IMS are able to make these available to our clients at a competitive cost. We are proud of our servicing standards and risk adverse business practice. Our service offerings are competitive with reference to service quality, cost and flexibility. • Our Services • Establishment and comprehensive administration of trusts, including on-going liaison with professional advisers and other parties. • Acting as holder of management shares for investment funds. • Acting as trustee of unit trusts or private trust arrangements. • Preparation of appropriate financial records. • Implementation of controls to ensure that confidentiality and protection of assets are maintained at all times, as legislation allows. ims.ky

10. Trust Services • Trust Arrangements • We are experienced in providing trust establishment and administration services to many types of trust arrangement, including: • Private, including discretionary, accumulation and maintenance and life interest. • Corporate – including pension and employee benefit trusts. • Charitable – solely for the benefit of charitable organisations. • STAR trusts (also known as purpose trusts) – very flexible trusts used for dynastic, philanthropic charitable (or non-charitable), or bankruptcy remote corporate purposes (e.g. to hold SPVs), among others. See our Purpose Trusts page for more details. • Private Trust Companies (PTC) – very popular among UHNW clients who desire a level of influence over the administration of the trusts under the control of the PTC. See our Private Trust Company page for more details. ims.ky

11. Captive Insurance What is a Captive? At its most basic, a captive insurance company is an insurance company licensed under specific insurance laws which are available in certain jurisdictions (including the Cayman Islands) and which has as its main purpose the insuring or financing of the risks of its owners, which may be a single shareholder or group of participant shareholders. ims.ky

12. Captive Insurance • Reasons for Forming a Captive • To minimize costs by the elimination of a large percentage of traditional insurance company overhead. • To retain profits that would otherwise have to be paid to commercial insurers in the form of premiums in excess of the amounts repaid to cover losses. • To have freedom over investment into which the premiums of the captive may be made. • To reduce risk by selecting only quality insureds known to each other (as in the case of some medical malpractice association captives). • To insure risks which would otherwise be uninsurable or cost prohibitive and to design custom policies. • Access to the re-insurance market. • The reduction of Government regulations and restrictions by seeking out a favourable jurisdiction for the registration of the company. • The reduction of taxes by domiciling the company in a low tax jurisdiction. Cash flow planning as the captive has the use and benefit of the premiums. • Timing of premium can be determined to suit the parent’s cash flow requirements. ims.ky

13. Captive Insurance • Why a Cayman Captive? • The Cayman Islands are ranked as a world leader in the captive insurance industry. Part of the success can be attributed to the following: • Less restrictive insurance regulation. • Freedom from exchange control. • Excellent telephone, fax and internet communications. • Modern insurance laws. • Abundance of banking, legal and accounting expertise together with high ethical standards. • Top domicile with track record of success and innovation. • Access to reinsurance markets in major insurance centres. • Absence of income and other taxes in the Cayman Islands. • Ability to cover third party risks. ims.ky

14. Other Services Our other services include establishment and administration of limited partnerships, vessel registration and virtual office services. Limited Partnerships Limited partnerships may be registered in the Cayman Islands either under the Partnership Law (for an Ordinary LP) or under the Exempted Limited Partnership Law (for an Exempted LP). IMS has extensive knowledge of the features of both structures and their key advantages, and can assist clients with the legal requirements, formation and on-going management. Virtual Office At IMS we recognise that for many clients it is not practical, cost effective or convenient to maintain their own physical office on the Islands. As a consequence IMS makes available its extensive resources to clients in order that they may continue their day to day activates in a professional manner without the need or cost of a physical presence. Vessel Registration A large proportion of the world’s luxury yachts are registered in the Cayman Islands, and IMS has assisted many of these in this process. We have experienced professionals well versed in all aspects of vessel registration enabling us to provide an efficient and reliable service which meets all regulatory requirements. ims.ky

15. Contact Us International Management Services Ltd Address :PO Box 61 Harbour Centre, Grand Cayman KY1-1102, Cayman Islands Telephone : +1 (345) 949 4244 Fax No :1 (345) 949 8635 Email : contactus@ims.ky Website : www.ims.ky ims.ky