Mutual Funds (Fees) Regulations (2026 Revision)

Summary

This is the consolidated 2026 Revision of the Mutual Funds (Fees) Regulations made under the Mutual Funds Act (2025 Revision). It sets out, in a Table of Fees, the specific fees payable to the Cayman Islands Monetary Authority (CIMA) for registering, licensing and administering mutual funds and mutual fund administrators in the Cayman Islands. The regulation itself does not create new fee categories but is a housekeeping revision consolidating all amendments made since the previous (2021) revision, including the 2024 amendment that repealed regulation 4.

The Regulations apply to regulated mutual funds (including master funds and funds with sub-funds), holders of Mutual Fund Licences, and Mutual Fund Administrators (including restricted Mutual Fund Administrators Licence holders).

Fees Prescribed

• Annual registration fees: Payable by regulated mutual funds, with amounts varying depending on fund type (e.g., master fund vs. other regulated fund).
• Application fees: Payable in connection with applications, with amounts varying depending on fund type and administrator size (number of funds administered).
• Administrative fees: Charged for filing or amending application forms.
• Annual licence fees: Payable by Mutual Fund Licence holders and Mutual Fund Administrators, with amounts varying depending on fund type and administrator size.

Fee Reductions and Refund Rules

• 50% fee reduction: Certain annual fees are reduced by 50% where CIMA is satisfied a licence holder has ceased carrying on mutual fund or mutual fund administration business (other than winding down existing contracts) before the fee's due date.
• Repayment condition: The reduction becomes immediately repayable if the holder enters into new business during the relevant year.
• Non-refundable fees: Certain administrative fees (items 1B-1E in the Schedule) are stated to be non-refundable.
• Historical concession: The annual registration fee was set at nil for funds making their first application under section 4(4)(a)(iv) of the Act if submitted within six months of the commencement of the Mutual Funds (Amendment) Act, 2020 (or such further period as CIMA specifies).

Key obligations

• Regulated mutual funds, master funds and licence holders must pay the annual registration, licence, and application fees specified in the Schedule (e.g., $3,675 annual registration fee for a regulated mutual fund; $2,625 for a master fund; additional $300 per sub-fund).
• Applicants for registration or licensing must pay the applicable administrative filing fee (generally $300) when submitting or amending an application form for registration or licensing under the specified sections of the Mutual Funds Act.
• Mutual Fund Administrators must pay the prescribed application fees ($20,000, $25,000 or $7,000 depending on licence type and number of funds administered) and annual licence fees ($30,000, $35,000 or $7,000 depending on licence type and scale).
• Administrative fees for items 1B, 1C, 1D and 1E in the Schedule are non-refundable once paid.
• A licence holder seeking a 50% reduction of an annual fee under sections 4(3)(d), 9(1) or 14(2) of the principal Act must satisfy CIMA, prior to the fee's due date, that it has ceased mutual fund or mutual fund administration business other than performing existing contractual obligations.
• If a licence holder that obtained a fee reduction subsequently enters into a new mutual fund business or administration contract during the relevant year, the reduced portion of the annual fee immediately becomes due and payable to CIMA.

Applies to

regulated mutual funds, master funds, mutual funds with sub-funds, Mutual Fund Licence holders, Mutual Fund Administrators, restricted Mutual Fund Administrators Licence holders

Deadlines

• within six months after the date of commencement of the Mutual Funds (Amendment) Act, 2020 (or such further period as the Authority may specify): Nil annual registration fee applies to a mutual fund making its first application for registration under section 4(4)(a)(iv) of the principal Act if the application is submitted within this period.

Related documents

• This document replaces Mutual Funds (Fees) (Amendment) Regulations, 2024 (SL 72 of 2024)
• This document replaces Mutual Funds (Fees) (Amendment) Regulations, 2025
• This document is made under Mutual Funds Act (2025 Revision)
• Mutual Funds (Fees) (Amendment) Regulations, 2024 (SL 72 of 2024) amends this document