Trade & Business Licensing

In order for an individual, partnership or company to conduct business in or from the Cayman Islands, an application must be made to the Trade and Business Licensing Board for the grant of a T&B Licence (subject to limited exceptions).

Trade and Business Licensing is necessary if a company wants to conduct business in Cayman. If the company does not have at least 60% Caymanian ownership and control, it will also require an LCCL from the Trade and Business Licensing Board (unless it is otherwise exempted from such requirement).

The T&B Licence fee is payable every year and the application for renewal must be made at least 28 days before the anniversary of the grant of the T&B licence. It is an offence to operate a business without a valid T&B Licence or an alternative licence (unless exempted).

Incorporation/ Registration

If you wish to establish a business in the Cayman Islands, you are required to engage a local licensed service provider to incorporate your company. This is a seamless process and most firms also provide these services: registered office, nominee shareholders, directors and other officers and management of the company on the instruction of the beneficial owner(s).

Corporate Services

There are many professionals and business who can assist with the process of incorporating a business in the Cayman Islands. These local licensed corporate service providers usually charge a fee of between US$700–US$1,250, excluding Government filing fees, for their services.

The other services they offer include: the provision of a registered office; maintenance of statutory registers; handling of annual returns; drafting resolutions and minutes; providing certified documents; getting documents apostilled and notarised; updating the register of officers, shareholders and directors; maintaining the minute book; assisting with corporate restructuring; revisions to the memo and arts, and some also provide director services.

Please see our Corporate Service Providers list for assistance.

Opening Business Accounts

To set up a business bank account for a company incorporated in the Cayman Islands, the bank or trust company will need the following information:

  • Full incorporation paperwork
  • Bank references from a current bank…