CLASS A · FULL BANKING
Class A Banking License
Full banking license: operations within Cayman Islands and abroad. Only major international banks or their subsidiaries. Heaviest supervisory burden.
Tier-1 banks04 · Регулятор: CIMA
Банковские, страховые
и инвестиционные
лицензии CIMA.
Каймановы острова — №2 в мире по captive insurance и №1 по healthcare captives. Полный набор лицензионных режимов: Banking Class A/B, Insurance Class A/B/C/D, SIBA, Trust full/restricted, Money Services Business, Fund Administrator.
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Banking Licenses
Banking regime
under Banks & Trust Companies Act
CIMA issues three categories of banking licenses — from a full-service Class A license for retail banks to Restricted B for niche, corporate and family-banking structures.
CLASS B · OFFSHORE
Class B Banking License
Offshore banking only — no deposits from Cayman Islands residents. Suitable for private banking, corporate banks, group treasury operations.
Offshore bankingRESTRICTED CLASS B
Restricted Class B
Banking for a strictly limited list of clients approved by CIMA. Family banks, in-house treasury holdings. Minimum capital — only CI$ 20,000.
Family / TreasuryBanking · key requirements
- Class A · Min. paid-up capital
- CI$ 400,000 (~US$ 480,000)
- Class B · Min. paid-up capital
- CI$ 400,000 (~US$ 480,000)
- Restricted B · Min. capital
- CI$ 20,000 (~US$ 24,000)
- Capital adequacy ratio
- 12% (subsidiaries) · 15% (private)
- Minimum directors
- 2 (CIMA fit & proper)
- Director experience
- 5+ years senior banking
- Local office and persistent staff
- Required
- Annual fees
- CI$ 35,000 to CI$ 120,000
Insurance Licenses
Insurance regime —
#2 in the world for captives
Under the Insurance Act, CIMA issues four classes of insurance licenses. Cayman Islands is the second-largest captive insurance domicile in the world and the leading domicile for healthcare captives.
CLASS A · DOMESTIC
Class A · Domestic Insurer
Insurance within Cayman Islands or limited reinsurance approved by CIMA. Local insurance companies.
LocalCLASS B · CAPTIVE
Class B · Captive Insurance
Primary category: 95% / 50% / <50% net premiums from related business. Pure captive (95%+) — for a single parent group. Industry / group captive — for an industry.
CaptiveCLASS C · ILS
Class C · Insurance-Linked Securities
Cat bonds, ILS structures, fully collateralised reinsurance. Liabilities limited to funding sources (bonds, contracts for differences). Growing segment.
ILS / Cat bondsCLASS D · REINSURER
Class D · Reinsurer
Full reinsurance license. For major international reinsurers. Separate capital and solvency requirements under CIMA Capital & Solvency Regulations.
ReinsuranceAGENT / BROKER
Insurance Agent / Broker
License for intermediaries: Insurance Agent (one general + one long-term insurer), Insurance Broker (any contracts). Do not bear insurance risk themselves.
BrokerageINSURANCE MANAGER
Insurance Manager
Mandatory local manager for all Class B/C/D captives. Manages capital, compliance, reporting. The link to CIMA.
ManagerCaptive insurance stats
Cayman — leading
domicile for healthcare captives
Healthcare is the largest class among Cayman captives, followed by workers' compensation. Most companies originate in the United States (60%+), followed by Latin America and the Caribbean. Average premium savings from establishing a captive — 20–35%.
Insurance · capital requirements
- Class A · MCR
- CI$ 100,000 — 200,000
- Class B (i) · pure captive
- CI$ 100,000
- Class B (ii) · group captive
- CI$ 150,000
- Class B (iii) · open market
- CI$ 200,000
- Class C · ILS
- CI$ 500 (collateralised)
- Class D · reinsurer
- CI$ 50M+
- Application processing
- 3–6 months
- Annual filing
- January 15 (renewal)
SIBA · Securities Investment Business
Securities Investment
Business Act
A SIBA license is required for those providing securities services (including security tokens) as broker, dealer, manager or advisor. Regulator — CIMA, a regime separate from VASP.
Securities Broker
Intermediation in securities transactions. Receipt and transmission of client orders. No principal exposure, no position risk.
Securities Dealer
Trading on own account and behalf. Principal transactions, market-making, prop trading. Stricter capital adequacy than broker.
Investment Manager
Discretionary portfolio management for clients. The most common SIBA category. Hedge fund managers, asset managers.
Investment Advisor
Paid securities advisory services. Non-discretionary. For wealth management, family offices, robo-advisors.
Excluded Persons
SIBA-exempt categories: management for a single related person, advisor for affiliated clients. Registration without a full license.
Registered Person Filing
Simplified regime for managers whose clients are sophisticated investors or high-net-worth individuals. Notification instead of license.
Trust Licenses
Trust licenses
CIMA
Under the Banks & Trust Companies Act, any company acting as trustee, executor or administrator must hold a Trust License. CIMA distinguishes Full and Restricted regimes, plus PTC registration.
FULL TRUST
Full Trust License
Right to act as trustee for any client. Trust companies. Minimum capital CI$ 400,000. Full CIMA supervision.
FullRESTRICTED TRUST
Restricted Trust License
Trust services only for a pre-approved list of clients. Minimum capital CI$ 20,000. Family trustees, in-house structures.
RestrictedPTC REGISTRATION
Private Trust Company
CIMA registration without a full license for PTCs conducting only "connected trust business" (trusts for one family). More accessible and faster.
PTCOther licenses
Money Services
and Fund Administrator
Money Services Business
Money transfer, currency exchange, prepaid cards. Under the Money Services Act. For payment companies, remittance providers, EMI equivalents. Min capital CI$ 100,000.
Fund Administrator
NAV calculations, investor registry, AML/KYC support for funds. Full and Restricted licenses. One of the few licensed fintech segments.
Corporate Services Provider
Companies Management Act. Company registration and ongoing support (CSP), nominee services, registered office. Any firm providing incorporation services.
Director Registration
Directors Registration & Licensing Act. All directors of regulated entities (funds, banks, insurers) must be registered or licensed by CIMA.
Forex Business
Falls under SIBA or Money Services. FX brokers and dealers — under SIBA with capital requirements. FX money transfer — under MSB.
Virtual Asset Service Provider
Separate regime under the VASP Act. Phase 1 (registration) or Phase 2 (License). Details on the VASP / Crypto page.
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