Registration Of A Foreign Company

INTRODUCTION

The Companies Law (as amended) (the "Companies Law") provides that all bodies corporate incorporated outside the Cayman Islands that carry on business within or establish a place of business in the Cayman Islands must register with the Cayman Islands Registrar of Companies (the "Registrar") as a foreign company.

CARRYING ON BUSINESS IN THE CAYMAN ISLANDS

The Companies Law sets out a non-exclusive list of what constitutes carrying on business and this includes:

1. the sale by or on behalf of a foreign company of its shares or debentures; and
2. offering, by electronic means, and subsequently supplying, real or personal property, services or information from a place of business in the Cayman Islands or through an internet service provider or other electronic service provider located in the Cayman Islands.