What Are Corporate Services?
‘Corporate Services’ is basically a broad brushstroke term used to define services provided to corporations and individuals with respect to the business they engage in. In general terms, these services are activities undertaken to consolidate industry-wide needs regarding specialized knowledge, support services, technology and best practices. Corporate services can be conducted internally within a business via a specific department or be provided to third parties as a part of a suite of services in a traditional client/provider type relationship. Accounting houses, law firms, advertisers, IT companies, tax advisors and companies that specialize specifically in company formation all offer some type of ‘corporate services’ to corporations worldwide. In the case of Cayman Islands corporate service providers – they are not necessarily providing a product – their ‘product’ then is the service offered supporting individuals and companies by providing assistance in their incorporation and registration of an offshore company, trust or entity. Plainly put, corporate services are usually thought of as those activities that assist in company formation and incorporation as well as assisting in helping these companies comply with local laws, regulations and statutes and in the keeping of the company in good standing in its home nation as well as when conducting business abroad. There are many companies in the Cayman Islands that specialize in corporate services, from legal and industry-specific perspectives. Company formation, compliance and future representation are the bread and butter of this industry with respect to our island nation.
What Specifically Do Cayman Islands Corporate Service Providers Do For Me?
Cayman Islands corporate service providers can do many things for you and your business. It is important to note, initially, that one should always make sure that their chosen service provider is licensed locally and accredited/qualified to undertake the tasks you require. We will provide a list of reputable Cayman Islands service providers a bit later. Additionally, most basic corporate services should cost under $2000 not including the fees incurred when you file with the Cayman Islands Government. Incorporation and company formation are the two main services offered but corporate service providers can do many other things for you and your business. These could include the filing of your annual returns, providing certified documentation, drafting your company’s minutes and assisting with some director services.
Have questions about Corporate Services in the Cayman Islands? We’re here to help. Feel free to contact us here and one of our professionals will help you with any questions you have about this or any other Cayman Islands related queries.