Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 224

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 224
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 execution, brought within the jurisdiction of the Cayman Islands. The Cayman
Islands is a party to a double tax treaty entered with the United Kingdom in 2010 but is otherwise not party to any double tax treaties
that are applicable to any payments made to or by our company. There are no exchange control regulations or currency restrictions in
the Cayman Islands.

Payments of dividends and capital in respect of our
securities will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or
capital to any holder of the securities nor will gains derived from the disposal of the securities be subject to Cayman Islands income
or corporation tax.

No stamp duty is payable in respect of the issue
of our ordinary shares or on an instrument of transfer in respect of such shares. However, an instrument of transfer in respect of our
shares, is stampable if executed in or brought into the Cayman Islands.

The Cayman Islands enacted the International Tax
Co-operation (Economic Substance) Act (2021 Revision) together with the Guidance Notes published by the Cayman Islands Tax Information
Authority from time to time. The Company is required to comply with the economic substance requirements from July 1, 2019 and make
an annual report in the Cayman Islands as to whether or not it is carrying on any relevant activities and if it is, it must satisfy an
economic substance test.

Income Tax Considerations

The following discussion summarizes certain Cayman
Islands and U.S. federal income tax considerations generally applicable to the acquisition, ownership and disposition of our units, ordinary
shares and rights is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are
subject to change. This summary does not deal with all possible tax consequences relating to an investment in our ordinary shares and
rights, such as the tax consequences under state, local and other tax laws.

Prospective investors should consult their professional
advisors on the possible tax consequences of buying, holding or selling any securities under the laws of their country of citizenship,
residence or domicile.

Cayman Islands Taxation

The following is a discussion on certain Cayman Islands
income tax consequences of an investment in our securities. The discussion is a general summary of present law, which is subject to prospective
and retroactive change. It is not intended as tax advice, does not consider any investor’s particular circumstances and does not
consider tax consequences other than those arising