Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision)

Summary

This document is the 2026 consolidated revision of the Cayman Islands Banks and Trust Companies (Licence Applications and Fees) Regulations, made under the Banks and Trust Companies Act. It sets out the information and particulars that must accompany an application for a bank or trust company licence, and prescribes the fees payable to the Cayman Islands Monetary Authority (CIMA).

• Fees prescribed for: the first grant of a licence, annual renewal of a licence, registration of a controlled subsidiary, and provision of registered office/principal office services.
• Fee waivers: the Governor may waive or reduce fees for licensees based in Cayman Brac or Little Cayman.

The regulations apply to applicants for, and holders of, 'A' licences, 'B' licences, Trust licences, Restricted 'B' licences, Restricted Trust licences and Nominee (Trust) licences, as well as controlled subsidiaries of licensees and branches of foreign banks/trust companies seeking to operate in the Islands.

• Fee variation factors: fee amounts vary substantially depending on licence type, whether restrictions apply, whether the licensee provides principal office services or private banking services to residents, and, for 'B' licences and Trust licences held by branches/subsidiaries of foreign banks, the licensee's asset size, calculated on average total assets across the four calendar quarters.

As a consolidated revision, the document itself does not introduce new obligations beyond restating and updating the fee schedule and application requirements incorporated from prior amending regulations, the most recent substantive amendment being made in 2024, effective 1 January 2025. It is presented as the current in-force text of these regulations as revised to 31 December 2025.

Key obligations

• Applicants for a bank and/or trust company licence must submit an application containing the information and particulars set out in the Schedule to the Regulations.
• Branch applicants from countries designated as having AML/CFT measures equivalent to the Islands may submit alternative information in place of that required under paragraph 10 of the Schedule, if CIMA considers it satisfactory; other branch applicants must submit the information required in paragraph 10 of the Schedule.
• Applicants must pay the prescribed fee for the first grant of a licence corresponding to the specific licence type and conditions sought (amounts specified in regulation 5).
• Licensees must pay the prescribed annual renewal fee for their licence type under section 6(8), calculated according to licence category, restrictions, and (for certain 'B' and Trust licences held by branches/subsidiaries of foreign banks) average total assets across the four calendar quarters.
• Persons registering a controlled subsidiary under section 5(4) must pay a registration fee at the time of registration and must pay a further fee of $8,000 on or before 31 January each subsequent year during continuation of the registration.
• Licensees providing registered office services under section 15A must pay an annual fee of $100.
• Applicants must pay the relevant application fee specified in paragraph 16 of the Schedule (e.g., $10,000 for an 'A' licence alone, $4,000 for a 'B' licence alone, $3,500 for a trust licence alone or other single licence).

Applies to

banks, trust companies, licence applicants, branches of foreign banks or trust companies, controlled subsidiaries, licensees providing registered office/principal office services

Deadlines

• on or before 31st January every year thereafter: Annual registration fee of $8,000 payable for continuation of registration of a controlled subsidiary.
• 1-Jan-2025: Commencement date of the Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024, the most recent substantive amendment incorporated into this consolidated revision.

Related documents

• This document replaces Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2025 (SL 66 of 2025)
• This document replaces Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 (SL 66 of 2024)
• This document replaces Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision)
• This document is made under Banks and Trust Companies Act (2025 Revision)