Private Trust Companies Regulations (2026 Revision)

Summary

This is a consolidated 2026 Revision of the Private Trust Companies Regulations, made under the Banks and Trust Companies Act (2025 Revision) and administered by CIMA. It sets out the regime that allows a Cayman Islands-incorporated trust company that only conducts trust business for a defined group of 'connected persons' (family members, related companies, etc.) to operate as a Private Trust Company (PTC) without needing a full trust licence, provided it registers with and remains registered with CIMA.

The regulations apply to companies incorporated in the Cayman Islands that conduct only 'connected trust business.' To qualify for the licensing exemption, a PTC must satisfy the following requirements.

• Registered office: Maintain its registered office at a licensed trust company.
• Records: Keep specified trust records and documents available for CIMA inspection.
• Registration and filings: Register with CIMA and file annual declarations and identification documents.
• Fees: Pay registration and annual fees.
• Director: Have at least one natural person director.
• Solicitation restriction: Refrain from soliciting funds from the public or from persons who are not connected persons.

The regulations also impose naming restrictions (use of 'Private Trust Company' or 'PTC'), penalties for breaches, and fees/procedures for surrendering registration.

CIMA retains powers to inspect PTC records, refuse or cancel registration (including for AML breaches or fit-and-proper concerns), and impose late-payment surcharges. This is a consolidated/revised version of regulations originally made in 2008 and amended several times through 2024; it reflects the law as in force as at 31 December 2025, and does not itself introduce new substantive changes beyond consolidation, based on the text provided.

Key obligations

• A private trust company (PTC) must maintain its registered office at the office of a company holding a Trust licence under section 6(5)(c) of the Banks and Trust Companies Act.
• A PTC must keep at its registered office, and make available for CIMA inspection, up-to-date records including trust deeds, trustee/settlor/protector/enforcer details, contributor and beneficiary details, and financial/transactional records.
• To obtain and maintain the licensing exemption, a PTC must register with CIMA and, at registration and on or before 31 January every year thereafter, file an annual declaration in the CIMA-approved form covering specified details, plus proof of identification of directors and shareholders.
• A PTC must pay CIMA an initial registration fee of US$3,500 and thereafter an annual registration fee of US$4,000; late payment incurs a surcharge of up to one-twelfth of the annual fee per month or part-month overdue.
• A PTC must not file false, misleading or inaccurate information in its registration filings.
• A PTC must notify CIMA within 30 days of any change to the information provided for its registration.
• A PTC registering on or after 1 February 2019, or making any change to its board membership on or after that date, must have a natural person appointed as a director.
• A PTC must not solicit or receive contributions to trusts of which it is trustee from the public or from persons who are not connected persons.
• A PTC must include the words 'Private Trust Company' or the letters 'PTC' in its registered company name; no other person may use these words/letters in a business description.
• A PTC surrendering its registration must pay CIMA a fee of US$300.

Applies to

private trust companies, trust companies (licensed under the Banks and Trust Companies Act)

Deadlines

• on or before the 31st day of January every year: PTC must file its annual declaration and pay the annual registration fee to maintain its registration/exemption from licensing.
• within thirty days of the change: PTC must inform CIMA of any change in the information previously provided for its registration.
• 1st February, 2019: Commencement date from which a PTC registering, or making changes to its board membership, must have a natural person appointed as a director.

Related documents

• This document is made under Banks and Trust Companies Act (2025 Revision)
• This document replaces Private Trust Companies (Amendment) Regulations, 2024
• This document replaces Private Trust Companies Regulations (2020 Revision)
• Private Trust Companies (Amendment) Regulations, 2024 amends this document