What do banks actually look for in Cayman Corporate structures today

Cayman Islands’ companies, limited partnerships and trusts are able to open bank accounts in any country in the world. The international reputation of the Cayman Islands as the premier offshore helps greatly in providing banks in various jurisdictions to open accounts for Cayman structures. However banks also look at other factors. Banks now assess Cayman structures based on credibility, not just form. A clear business purpose and real economic relevance are essential. Full disclosure of ultimate beneficial owners, source of fund and/or source of wealth, and credible economic substance is expected. The right corporate service provider in the Cayman Islands can make the difference.

Hermes Corporate Services (HCS) is a leading offshore provider of incorporations, corporate services, and compliance solutions in the Cayman Islands and the British Virgin Islands (BVI). We offer company formation and registered office services for Exempted Companies, Exempted Limited Partnerships, Segregated Portfolio Companies, and LLCs in Cayman, as well as formation and compliance services for BVI business companies, limited partnerships, SPVs, and SPCs.

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