The process is known as Reincorporation. I haven’t been involved in the process of transferring a US business to the Cayman Islands, but on several occasions, I set up the Cayman corporations that were used in the process. This approach is totally legal and much simpler than what I think you intend to do; I can look into the matter for you if you wish.“If you decide to reincorporate your US holdings, have your new parent corporation create a new corporation for each of US businesses that you reincorporate. What this will do is allow you to transfer your parent corporation’s management costs to the subordinate Cayman corporations. That will reduce the amount of taxes you pay to the IRS, and it’s legal.“My second suggestion is for the current owner to make it public knowledge that they own all of the new corporation’s stock. This will prevent any question of the owner transferring ownership of the businesses to another person.”Elsa and I looked at each other and smiled. I said, “That. I was hoping thatour friendship was strong enough to get thru that moment.He asked, "Are you gay now or what?" He knew I had been with a lot ofgirls so he must have felt stupid for asking that."It's not like that at all," I answered. "It's more like I loveeverything about women so much, I want to be like one myself," I added.It was more or less true. I didn't need to tell him more than that at themoment. I didn't know at the time that it may not have been the answer hewas looking for. He thought about it for a few minutes then broke his silence with asurprising statement. "I want to see what you look like dressed up," hesaid very seriously. There was another long pause as I judged my friendshonesty. "Would you do that for me Marty?" he continued."What, right now?" I asked in astonishment."Yes, now, why not?" he asked, very casually. I considered for a second. My face was still smooth from a late shave, mylegs were smooth under my jeans. I downed my glass of scotch and toldhim, "It.
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