The Cayman Islands, which has established itself as one of the world’s key financial centres, offers unique opportunities for foreign investors, including non-residents, who wish to open a bank account here. The features of such an account include a high degree of confidentiality, no income tax and the ability to manage assets internationally. In this article we will review the process of opening a bank account in the Cayman Islands for non-residents, discuss the requirements and the main steps of this procedure.
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The tax liability on chargeable gains from assets are generally included in the company’s Corporation Tax payment. This means the chargeable gain will be calculated at the Corporation Tax rate. Due to the difference between Corporation Tax and Capital Gains Tax, the capital gain needs to be adjusted. An adjusted gain must be reported in the capital gains section of the online CT1 form.
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An official copy of your last annual/financial report

Drawing up a liquidation certificate;
For companies constituent documents, confirmation of the company’s status and information on beneficial owners.
After selecting a bank and preparing the necessary documents, the next step is to apply for an account. Depending on the bank, this can be done online, by post or in person at a branch. During the application process, it is important to follow all the bank’s instructions precisely and provide complete and up-to-date information.
It is important to note that for certain activities and depending on the structure of the company, a local director or representative may be required to comply with Bermuda’s corporate requirements.
Identification: When you visit the bank, you may be required to undergo an identification procedure by submitting the necessary documents and completing a questionnaire.