Corporate Services Licensing Requirements

A company manager is defined as any entity engaged in the "business of company management." According to the Companies Management Act, this refers to providing managerial services for profit or reward within the islands, where a person acts as a director, shareholder, or has control over the substantial assets of a company. Applications should adhere to the guidelines outlined in the Companies Management Regulations and the Companies Management (Amendment) Regulations. To assist applicants, the following checklists are provided:

1. Personal Questionnaire
2. Application Requirements for Corporate Services
3. Application Requirements for Company Managers

Online Submissions and Electronic Application Forms

REEFS is our online, automated portal for submitting mandatory financial returns, change requests, and new licence applications.

Please note that this is a summary of legal requirements. For more detailed information, refer to the Companies Management Act, available in hard copy from the Legislative Assembly.

All Licensees (Trust and Company Managers):

1. must inform Cmrai of any changes in the registered or principal office;
2. must have their accounts audited annually by an auditor approved by Cmrai and submit a copy of the audited accounts to Cmrai:
   • within three months of the trust company’s financial year-end
   • within six months of the company manager’s financial year-end
3. must pay the annual fee by January 15th each year. If the fee is not paid by that date, a penalty of one-twelfth of the annual fee will be charged for each month or part of a month during which the fee and any penalty remain unpaid;
4. must obtain approval from Cmrai before issuing or transferring shares and before appointing a director or controller;
5. must notify Cmrai of any changes in auditor or company name.

All Auditors

1. must notify Cmrai if, during an audit, they become aware or suspect that the licensee:
   • is or is likely to become unable to meet its obligations as they fall due;
   • is conducting or attempting to conduct business, or winding up its business voluntarily, in a manner that is detrimental to its investors or creditors;
   • is conducting or attempting to conduct business without maintaining sufficient accounting records to allow proper auditing of its accounts.

Note 1: All applications should be sent to:

Managing Director
Cayman Monetary Regulatory Authority International
SIX,Cricket Square Elgin Avenue Grand Cayman

Note 2:
Applicants should be aware that the Authority may request additional information to process the application.