Exempted companies are required to keep proper books of account with respect to its receipts and expenditures, sales and purchases of goods and assets and liabilities. The accounts must give a true and fair view of the status of the Company. The Cayman Islands Companies Law does not require the accounts of the exempted company be audited or filed to Companies Registry.

Exempted companies are not required to be ended with “Limited” or “Ltd” in Cayman Islands. The Registrar of Companies will not register a company that the name of which is identical or so nearly resembles to the name of an existing company. In addition, there are certain sensitive words such as “bank”, “trust”, “insurance” and “royal” required the consent from the Registrar of Companies in advanced.

Are there any restrictions on the registration of company name for BVI company? The name of the company must not be identical or similar with the name of any existing company in BVI. It must be ended with the word “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme” or “Sociedad Anonima” or the abbreviation “Ltd”, “Corp”, “Inc” or “S.A.”.

The British Virgin Islands (BVI) is the world’s second largest investment funds domicile. The primary legislation in which regulates the investment funds in BVI is the Securities and Investment Business Act, 2010(SIBA).Investors of the open-ended funds have the right to redeem their fund interests on demand in accordance with the fund documents, while investors of the close-ended funds do not have right to redeem or withdraw their fund interests on demand in accordance with the fund documents.

Cayman Foundation company has features and flexibility that allow a company to retain separate legal personality and limited liability while functioning in a way similar to civil law foundation or common law trust. Foundation has a long history in civil law jurisdictions and their introduction was initially introduced for client who are uncomfortable transferring legal ownership of assets to a trustee.

With many traits of trusts and corporations, Panama foundations have wide variety of uses for estate planning since they were introduced. The foundation has a separate legal personality and limited liability while operating in a manner similar to both a company under civil law and a trust under common law.

Labuan was declared an international offshore financial center in 1990 and was later renamed Labuan International Business and Financial Center. It is directly managed by the Federal Territories Department of the Federal Government of Malaysia. The legal system of Labuan, like the rest of Malaysia, is derived from English common law.

Guernsey is a well-established trust jurisdiction and an international finance centre. It has a modern trust legislation and an effective judicial system. Guernsey law is derived from English common law, as supplemented by the Trusts (Guernsey) Law 2007 (the “Trust Law”). Guernsey is a leading jurisdiction for the establishment and management of trusts.

Jersey Foundation combines many aspects of both a trust and a company. Foundation has features and flexibility that allow a company to retain separate legal personality and limited liability while functioning in a way similar to civil law foundation or common law trust.

Cayman Islands, Trust Period:150 years. Yes, the Settlor can reserve the following powers to themselves or to the Protector: Power to appoint or remove trustees; Power to appoint or remove beneficiary or alter the class of beneficiaries; Power to give investment direction to the Trustee regarding the investment of the trust fund; Power to vary, amend or revoke the trust instrument;