ponnypon

Hi,

I'm a sole trader, running a mobile apps business, i have no employees and
and make over £150,000 a year, so high tax bracket.
Is it possible for me to move myself to the cayman islands and setup my business there?
I feel this would be best as i'm not a company with employees just one guy and i'm willing to fully up sticks and move if it means no tax.
Is this something that might be possible?

Cheers for your time

Orangepants

Have you been to Cayman? Have you researched living and working there? Do you plan to do business as a resident company or as a foreign company? Are you just looking at it as a place to live?
Look at the Dept of Commerce and Investment and the Cayman New Resident websites to start, then the immigration website.

ponnypon

Yes i went to cayman briefly as a child, i loved it. I've got enough money to live there but i don't need to work a job, just set up my business there. Resident company would be ideal, whichever gives me the best tax outcome really. Just wondered if anyone had any experience doing a similar thing. BTW i'm moving from the UK to cayman.

Orangepants

I worked there on work permits so don't really know much about setting up a business but usually for a resident business you need a Caymanian partner. Best bet would be to find a lawyer who can run through the options with you.
Gordon Barlow who often posts here would know more about these types so things.
Research residence visa for person of independent means but you'd need to put down 500K into real estate, there are a few options.. good luck..

ponnypon

ok great, thanks for the help. I suppose it's a case of becoming a resident first and then looking into how i can setup up my own business.

DavidWalshe

check out the Cayman Enterpirse Zone for setting up the business and get in touch with Chris at CMLOR for some further advise.
Tell him David from CMLTV sent you and best of luck. Just relocated myself