Companies Management (Amendment) Regulations, 2024 (SL 67 of 2024)

Summary

This is a Cayman Islands statutory regulation (SL 67 of 2024) that amends the Companies Management Regulations (2018 Revision) made under the Companies Management Act. It makes two changes to the principal regulations.

• Cross-references: Updates cross-references throughout the principal regulations from the old 'First/Second/Third Schedule' naming convention to the new 'Schedule 1/2/3' format.
• Table of Fees: Repeals and replaces the Third Schedule, which sets out the Table of Fees payable by companies management and corporate services licensees; this is the more substantive change.

The new Table of Fees sets out application fees, fees payable on grant of a licence, and annual renewal fees for both companies management licences and corporate services licences. Renewal fees are tiered based on the number of managed companies (for companies management licensees) or serviced companies (for corporate services licensees) as at 31 December of the preceding year, with a base per-company charge plus a banded additional fee depending on the total number of companies serviced.

The Regulations apply to companies management licensees and corporate services licensees regulated under the Companies Management Act. They come into force immediately after the Companies Management (Amendment) Act, 2024 comes into force, rather than on a fixed calendar date, so the actual commencement date depends on when that separate Act takes effect.

Key obligations

• Applicants for a companies management licence must pay an application fee of $1,000; applicants for a corporate services licence must pay an application fee of $1,000.
• Licensees must pay a fee on grant of a companies management licence of $750, or $500 for a corporate services licence.
• Companies management licensees must pay an annual renewal fee comprising a per-managed-company charge of $180 (based on the number of managed companies as at 31 December of the preceding year) plus a banded fee ranging from $1,000 (up to 99 managed companies) to $21,500 (4,001 or more managed companies).
• Corporate services licensees must pay an annual renewal fee comprising a per-serviced-company charge of $100 (based on the number of serviced companies as at 31 December of the preceding year) plus a banded fee ranging from $750 (up to 99 serviced companies) to $11,500 (4,001 or more serviced companies).

Applies to

companies management licensees, corporate services licensees

Deadlines

• immediately after the Companies Management (Amendment) Act, 2024 comes into force: Commencement date of these Regulations, tied to the separate Companies Management (Amendment) Act, 2024 taking effect rather than a fixed calendar date.
• 31st December in the preceding year: Renewal fees for companies management and corporate services licences are calculated based on the number of managed/serviced companies as at this date.

Related documents

• This document amends Companies Management Regulations (2026 Revision)
• Companies Management Regulations (2026 Revision) replaces this document