Cayman Islands Enacts Company Fee Hikes
Monday, October 22, 2012
New legislation that will hike fees payable by Cayman Island companies, the Companies
(Amendment) (No. 2) Bill, 2012, has been published in the territory's Official
Gazette following approval from the legislative assembly.
An amendment to Section 156 of the principal Law increases, from KYD50 (USD61)
to KYD75, the fee relating to a request on behalf of a company for removal from
the companies register.
Section 200 of the principal Law has been amended to add a fee of
KYD400 for an application for registration in the case of a merger. In addition,
the fee relating to an application for the registration of a change of name
has been hiked from KYD75 to KYD100.
Schedule 5 of the principal Law is amended to increase the annual fee
payable by an exempted company by KYD100. Lastly, a hike of KYD25 has been legislated
for "certain other fees for which no fee is elsewhere prescribed".