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Cayman Islands Securities Investment Business License

Cayman Islands Securities Investment Business License

Forex License
The Cayman Islands are located in western Caribbean, and are known as one of the major financial centers in the world. In contrast to classic offshore jurisdiction, Cayman financial services industry is well-regulated thus having very positive reputation among investors.
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Timeframe: around 6 months

Minimum paid up capital: KYD 100,000 (>USD 121,000)


Overview

The company incorporated in Cayman Islands that wishes to conduct brokerage business is required to hold a license granted by Cayman Islands Monetary Authority (CIMA). Investment activities are regulated by the Securities Investment Business Law (SIBL) (latest amendment of 2015).

Cayman Islands Securities Investment license allows to:

  • Accept and transmit funds
  • Execute orders on behalf of the clients
  • Underwrite financial instruments
  • Securities management

Among other benefits, the applicant will be able to enjoy the following advantages:

  • Cayman Islands are one of the major financial hubs
  • No local presence required
  • Bank account can be held in any bank (not necessarily in local bank)
  • No local income, corporation, capital gains, profits or withholding taxes for Cayman exempted companies
  • High level of asset protection
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Licensing Criteria and Procedures for Applying for Cayman Islands Securities Investment Business License

Notable features
Procedure
Documents Required

General information

Company structure

  • At least 1 shareholder (natural persons and legal entities allowed, no restrictions with regards to citizenship or residence)
  • At least 2 directors (natural persons only, no restrictions with regards to citizenship or residence)
  • The company must appoint an auditor

Taxation

  • No corporate tax
  • No income tax on money earned outside of its territory
  • No interest tax 
  • No dividend tax

Accounting and Audit requirements 

  • Submission of quarterly returns
  • Submission of annual audited financial statements

Registered office - Required

Registered Agent - Required

Secretary - Required

Insurance

The company should at all times maintain insurance to cover professional indemnity, the liability of its senior officer and corporate secretary, and/or business interruption. It is possible to arrange insurance outside Cayman Islands.

Offshorelicense LTD is able to assist with this service for additional fee that shall be quoted on case to case basis, depending on the scale of business.

Company name

  • Language: Any
  • Letters: From Roman alphabet
  • Names having royal, national, international, and commercial or other significance are prohibited
  • Names that are misleading or deceptive are prohibited
  • Offensive names are prohibited
  • Identical or almost identical names are prohibited
  • An only suffix “Limited” is allowed. After incorporation, the suffix “Ltd” can be used everywhere

In order to obtain Cayman Islands Securities license, the following steps shall be carried out:

  • Incorporation of a local legal entity
  • Preparation of application forms
  • Initiation of the license obtaining process
  • Application is being processed and conditional approval is granted by the CIMA
  • Provision of proof of local presence

In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. 

For that reason, please provide us with the following documents.

For each beneficial owner, shareholder, director, authorised signatory:

  • A notarized copy of valid passport
  • A copy of proof of residential address (ex. utility bill that is not older than 3 months)
  • A bank Reference Letter
  • CV dated and signed
  • 2 Character Reference Letters
  • 1 Reference verifying good financial standing
  • Clean criminal records

For directors and shareholders:

  • Educational qualification certificate

N.B.

  • If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
  • Please ensure that notarization is in English language if not then please provide with notarized English translation.
  • When Shareholders are legal entities, it is required to provide apostilled set of corporate documents and certificate of Good Standing.

Additional documents may be requested by CIMA at any point depending on particulars of each application