Increases To Company Annual Fees
Increases to Government Annual Fees for Companies
On 1 November 2023, the Ministry of Financial Services (the “MFS”) of the Cayman Islands Government, announced an increase to the annual fees due for certain types of companies. The changes are set to take effect as of 1 January 2024.
The changes do not affect local resident companies but will apply to:
- exempt companies;
- non-resident companies;
- foreign registered companies;
- limited liability companies (LLCs); and
- segregated portfolio companies (SPCs).
The MFS has noted that these changes are being made to help fund investments to improve the Companies Register's service delivery, particularly in technology.
The table below shows a breakdown of the Government fee changes. The figures are in Caymanian Dollars (KYD).
If you have queries about how this will affect your company, please contact us at info@bransens.com for more information.
| Type | Lower Share capital | Upper Share Capital | Current Annual Fee | New Annual Fee |
| Companies- Exempt | 0 | 42,000.00 | 700 | 825 |
| 42,001 | 820,000.00 | 1,000 | 1,125 | |
| 820,001 | 1,640,000.00 | 1,984 | 2,109 | |
- | > 1,640,000.00 | 2,568 | 2,693 | |
| Companies- Non-Resident | 0 | 42,000.00 | 675 | 800 |
- | > 42,000.00 | 915 | 1,040 | |
| Companies-Foreign | 1,350 | 1,550 | ||
| Limited Liability Companies | 800 | 1,000 | ||
| SPC Cell fees | 300 | 400(up to a maximum of $6,000) | ||
Table Credit: Ministry of Financial Services, Cayman Islands Government
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