A foundation company is governed by the Cayman Islands Companies Act, with key modifications to the traditional company model. It will provide a highly adaptable vehicle for achieving a wide range of private, commercial and philanthropic objectives for those located in civil and common law jurisdictions alike.
The intent of the Foundations legislation is to enrich Cayman’s well regarded collection of structuring vehicles by creating a type of corporate entity that fits seamlessly into the existing legal framework. A foundation company is free to engage in any trading or commercial activities (as may be provided in its Memorandum and Articles) and third parties will have the same protections as they would when dealing with any other company.
A foundation company is suitable for a broad array of estate planning purposes. It has the flexibility of a trust used to hold family wealth, without the uncertainty of appointing a trustee in the home jurisdiction of the Founder.
- Consultation on the use and structuring of foundation companies;
- Incorporation and registration of new foundation companies, or conversion of a current Cayman exempt company to a Cayman foundation company;
- Advising on and reviewing terms of constitutional documents to ensure they meet the needs of the Founder;
- Provision of Company Secretary and registered office;
- Provision of individual or corporate directors;
- Supervisor services;
- Administration services, including the payment of government fees, maintenance of minute book and registers;
- Maintenance of anti-money laundering records;
- Preparation and maintenance of accounts; and
- Liaising with professional advisors, as necessary.