The Cayman Islands make a great location for doing business. Income taxes just do not exist and contrary to popular belief, they are not included in the lists of tax havens.

Taxes in the Cayman Islands

The Cayman Islands do not have a corporate income tax. Thus, corporate profits are not taxed in any way on any level.
The Cayman Islands do not impose the value-added tax (VAT).
However, it is worth noting that there are import duties levied on most goods, with an average rate of 25%.

Taxes in the Cayman Islands – note the following:

In the Cayman Islands, there is no corporate income tax and therefore, the Cayman Islands do not engage in classifying businesses as their tax residents or non-residents. However, it should be noted that conducting business in the Cayman Islands requires obtaining a licence.

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FAQ

  • HOW TO CHOOSE THE RIGHT COUNTRY TO MOVE TO?

    Moving abroad is a highly significant step in life. Tax issues should come as the last matter to be considered. Think about where you would like to live, where your children should go to school and where you want to run a business. Only after honestly answering these questions, can you decide which country will be the most suitable for all your needs.

  • WHAT FORMALITIES DO I HAVE TO COMPLETE WHEN MOVING OUT OF POLAND?

    There are many formalities, and they depend primarily on the current situation. The aim should be to completely sever all ties with Poland.

  • DO I HAVE TO FILE A TAX RETURN IN POLAND AFTER MOVING AWAY?

    Tax returns in Poland are submitted by Polish residents or persons earning income in Poland who are residents of another country. It all depends on whether you have successfully relinquished your Polish residence. And if you have, it also depends on the kind of income you earn in Poland.

  • WILL I PAY TAX IN POLAND BECAUSE OF RELOCATING THE COMPANY ABROAD?

    The question is about the broad subject of exit tax. First of all, you need to verify what moving the company abroad actually means. It can be both the relocation of the registered office of the company and the personal move of the entrepreneur – a natural person. The tax implications of both situations may be significantly different.

  • CAN I TRANSFER THE COMPANY'S ASSETS TO THE DESTINATION COUNTRY TAX-FREE?

    The general limit below which you do not have to pay exit tax in Poland is PLN 4 million. Nevertheless, it is always necessary to check this issue because the transfer of the company’s assets to the destination country will not always mean the same thing.