You mean besides opening a company in said jurisdiction? They took advantage of said jurisdiction by incorporating there and then had to pay taxes for it. Seems pretty straight forward.
It is quite possible that it was tax neutral for them personally.
Cayman Islands has other costs and risks - depending upon your context.
What's the evidence for this? I've run a UK company, albeit a decade or more ago. Fees are negligible. There's a £34 annual filing fee. You might choose to pay accountants to prepare and file your accounts for you, but presumably if you were to do so you would do the same in the Caymans.
AFAIK getting accounts completed and filed is expensive in Caymans.
Professional costs in the Cayman Islands are hideously expensive (from my extremely limited experience).
Additionally, FYI, a Cayman Islands company needs a local Cayman Island director which costs thousands per annum.
dlcarrier•2w ago
walterbell•2w ago
This editorial on Delaware corporations? https://a16z.com/were-leaving-delaware-and-we-think-you-shou...
Another view, https://handbooks.clerky.com/startup-incorporation/where
dzink•2w ago