Republic Bank (Cayman) Ltd is a wholly owned subsidiary of Republic Financial Holdings Limited headquartered in Trinidad & Tobago.
Republic Financial Holdings Limited’s Cayman Islands subsidiary was established in 1992 to serve the needs of high net worth clients in the Caribbean region.
Republic Financial Holdings Limited, with its roots going back to 1837, is the parent company of the largest retail bank in Trinidad & Tobago.
The last decade has seen the bank expand into other Caribbean markets, and the Republic is now one of the most diversified financial services groups in the region.
Republic Financial Holdings Limited has consolidated group assets of approximately US$10 billion.
Banking The Republic Bank (Cayman) Limited offers demand accounts, and call and fixed deposit accounts in all major currencies.
Interest rates paid on fixed deposits (CD’s) are in line with rates generally available in the international money markets. Credit cards issued by the parent Republic Bank Limited are available to clients.
The Bank can provide international trade services, letters of credit, and cross border guarantees.
An exempted company is not permitted to conduct business in the Cayman Islands except in furtherance of its business overseas. It is however specifically exempted from any present or future taxation for a period of twenty years, and this period can be extended. Generally, exempted companies are not permitted to hold land or real estate assets in the Cayman Islands.
An ordinary non-resident company doesn't have guarantee future exemption from taxation, but can hold land and real estate in the Cayman Islands although it still cannot undertake business activities in the Cayman Islands.
Although all companies are required to maintain books of account, there is no requirement to file financial statements with any regulatory body. Apart from the annual payment of government fees there are no otherongoing government requirements.
What services can Republic Bank (Cayman) Limited provides.
Naturally the Bank can move funds electronically to destinations worldwide as well as provide bank drafts in several major currencies.
Company Formation and Management
The Bank can form Cayman Islands companies on behalf of clients and attend to all the ongoing corporate maintenance.
Investment
Investments in stocks or bonds in all major markets can be made through the Bank. These investments can either be registered in the client’s own name or can be registered in the name of the Bank’s nominee company. If the Bank’s nominee company is used, the securities will be registered as having foreign ownership. No names other than the nominee company name will appear in the transaction.
Portfolio Management
In conjunction with internationally recognised fund managers, the Bank can provide a managed investment portfolio service for clients with investments of $1,000,000 and above. These portfolios are managed according to the client's investment parameters and tolerance to risk.
Trustee Services
The Cayman Islands’ trust law has been well tried and tested over several decades and the Bank has become a leading trust service provider in the islands.
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