Cayman Tax, continued

In two royal decrees dated 23 August 2015, the Minister of Finance announced the legal entities that are deemed to be legal arrangements that must be reported in the tax payer’s tax return if he is the founder, an heir of the founder or a beneficiary and on which he must pay tax.

The first royal decree lists three legal entities within the European Economic Area.

  1 Liechtenstein РAnstalt

– Stiftung

 2 Luxembourg РSociété de gestion Patrimoine Familiale

Even if the taxpayer were to prove that the entity paid more than 15% tax, he cannot avoid taxation.

The second royal decree lists all entities outside the European Economic Area that are deemed to be legal arrangements, but the taxpayer can prove that the entity paid more than 15% tax.

  1 Anjouan (Union of the Comoros) РInternational Business Company
  2 Antigua and Barbuda РInternational Business Company
  3 Anguilla РInternational Business Company
  4 Aruba РStichting Particulier Fonds
  5 Bahamas РInternational Business Company

– Foundation

  6 Barbados РInternational Business Company

– International Society with Restricted Liability

  7 Belize РInternational Business Company
  8 Bermuda РExempt Company
  9 British Virgin Islands РCompany
10 Brunei – International Business Company
11 Cayman Islands – Exempt Company
12 Cook Islands – International Company
13 Costa Rica – Company
14 Djibouti – Exempt Company
15 Dominica – International Business Company
16 Isle of Man – Company
17 French Polynesia РSociété
18 Grenada – International Business Company
19 Guam – Company
20 Guatemala РFundación
21 Guernsey – Company
– Foundation
22 Hong Kong – Private Limited Company
23 Jersey – Company

– Foundation

24 Labuan (Malaysia) – Offshore Company
25 Libanon – Companies that qualify for the offshore companies regime
26 Liberia – Non-resident company
27 Macao РFundação
28 Maledives – Company
29 Marshall Islands – International Business Company
30 Mauritius – Global Business Company category 1

– Global Business Company category 2

31 Micronesia – Company
32 Monaco – Fondation
33 Montserrat – International Business Company
34 Nauru – Company

– Other forms of company negociated with the government

35 Netherlands Antilles – Stichting Particulier Fonds
36 New Caledonia РSociété
37 Niue – International business company
38 Northern Mariana Islands – Foreign sales corporation
39 Palau – Company
40 Panama РFundación de interés privado
41 Panama – International Business Company
42 Saint Kitts and Nevis – Foundation

– Exempt Company

43 Saint Lucia – International Business Company
44 Saint Vincent and the Grenadines – International Business Company
45 Salomon Islands – Company
46 Samoa – International company
47 San Marino – Fondazione
48 Sao Tomé and Principe РInternational Business Company
49 Seychellen – International business company
50 Switzerland – Foundation
51 Turks and Caicos – Exempt Company
52 Tuvalu – Provident Fund
53 United Arab Emirates – Offshore Company
54 USA  State of Delaware
State of Wyoming
– Limited Liability Company
– Limited Liability Company
55 US Virgin Islands – Exempt Company
56 Uruguay РSociedad Anónima Financiera de Inversión
57 Vanuatu – Exempt Company
58 Vanuatu – International company
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