Bank Licence (Category A and Category B) under the Banks and Trust Companies Act (Cayman Islands)
The Bank Licence (Category A and Category B) under the Banks and Trust Companies Act is issued by Cayman Islands Monetary Authority (CIMA) under Banks and Trust Companies Act (2025 Revision). The official register lists 76 current holders. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Bank Licence (Category A and Category B) under the Banks and Trust Companies Act1 |
|---|---|
| Issued by | Cayman Islands Monetary Authority |
| Jurisdiction | Cayman Islands |
| Licence family | Bank / credit institution |
| Legal basis | Banks and Trust Companies Act (2025 Revision)2 |
| Passporting | Domestic only |
| Public register | official register1 |
| Current holders | 761 |
What it lets you do
- Taking deposits from the public. Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions.
- Lending. Granting loans, including consumer credit, mortgage credit, factoring and financing of commercial transactions.
- Execution of payment transactions. Executing direct debits, card payments and credit transfers, including standing orders, from a payment account.
Where it is valid
Buying a company that already holds it
Prior approval required. Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold: any transfer needs prior approval.3
Sources
- cima.ky: banking statistics · retrieved 2026-09-24
- cima.ky: acts and regulations · retrieved 2026-09-24
- maples.com: cima change of control process a guide for cayman islands re · secondary · retrieved 2026-09-24
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