Licensing of Trust Companies in the Cayman Islands

The Cayman Islands is one of the leading jurisdictions for the establishment and management of trusts with worldwide recognition of the highest quality. A trust can be established in a matter of days, and there is no requirement of registration. The Cayman Islands has the advantage of a progressive trusts legislation and provides a trustworthy and reliable judicial system. The specialist Financial Services Division of the Grand Court handles trust matters, and final appeals are ultimately heard by the Privy Council in London. Cayman also imposes no gift, estate, income or capital taxes for individuals or corporations, including any properties owned under or income arising from a trust. There is a wealth of professional trust companies in the Cayman Islands. To obtain an authorisation to provide trustee services to trust clients, a person or legal entity must apply for a trust licence from the Cayman Islands Monetary Authority (CIMA). This guide provides a basic outline on three main categories of trust licences available in the Cayman Islands. Please contact us for any additional questions and structuring considerations.

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[1] Approximately US$ 487,805

[2] Approximately US$ 109,756

[3] Approximately US$ 24,390

[4] Approximately US$ 8,536

[5] Approximately US$ 7,317

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