Virtual Asset Service Provider Registration (Cayman Islands)
The Virtual Asset Service Provider Registration is issued by Cayman Islands Monetary Authority (CIMA) under Virtual Asset (Service Providers) Act (2024 Revision). The official register lists 18 current holders. The application fee is KYD 1,000 initial assessment fee. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Virtual Asset Service Provider Registration1 |
|---|---|
| Also known as | CIMA VASP registration · Cayman VASP registration · VASP registration (Cayman) · Phase 1 VASP registration · Cayman virtual asset registration |
| Issued by | Cayman Islands Monetary Authority |
| Jurisdiction | Cayman Islands |
| Licence family | Virtual asset service provider (non-MiCA) |
| Legal basis | Virtual Asset (Service Providers) Act (2024 Revision)2 |
| Passporting | Domestic only |
| Application fee | KYD 1,000 initial assessment fee3 |
| Public register | official register4 |
| Current holders | 184 |
What it lets you do
| Virtual asset exchange (FATF) | Exchanging virtual assets for fiat currency or for other virtual assets as a business, as defined in the FATF glossary. |
|---|---|
| Virtual asset transfer (FATF) | Conducting transactions that move virtual assets between addresses or accounts on behalf of another person. |
| Virtual asset safekeeping (FATF) | Safekeeping or administering virtual assets, or instruments enabling control over them, for another person. |
Where it is valid
Cost
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.5
Ready-made companies holding this licence: see verified positions.
VASP in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | VASP licenceFinancial Services Permission with Virtual Asset Activities Endorsement | FSRA | USD 250,000 | USD 20,000 | n/a |
| Australia | VASP licenceRegistration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register) | AUSTRAC | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class F (Full) Licence | BMA | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class M (Modified) Licence | BMA | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class T (Test) Licence | BMA | n/a | n/a | n/a |
| British Virgin Islands | Virtual Assets Service Provider Registration | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Virtual Asset Service Provider Licence | CIMA | n/a | KYD 5,000 | n/a |
| Cayman Islands | Virtual Asset Service Provider Registration | CIMA | n/a | KYD 1,000 | n/a |
| Dubai (VARA) | Virtual Asset Advisory Services Licence | VARA | AED 100,000 | AED 40,000 | n/a |
| Dubai (VARA) | Virtual Asset Broker-Dealer Services Licence | VARA | AED 600,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Custody Services Licence | VARA | AED 600,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Exchange Services Licence | VARA | AED 1,500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Lending and Borrowing Services Licence | VARA | AED 500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Management and Investment Services Licence | VARA | AED 500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Transfer and Settlement Services Licence | VARA | AED 500,000 | AED 40,000 | n/a |
| Dubai International Financial Centre (DIFC) | Financial Services Permission with Crypto Token Activities Endorsement | DFSA | USD 1,000,000 | USD 15,000 | n/a |
| El Salvador | Proveedor de Servicios de Activos Digitales (PSAD) registration | CNAD | USD 2,000 | USD 5,475 | ~0.9 mo |
| Germany | Qualified crypto custody licence | BaFin | n/a | n/a | n/a |
| Ireland | Virtual Asset Service Provider AML/CFT Registration | CBI | n/a | n/a | n/a |
| Mauritius | Virtual Asset Advisory Services (Class I) | FSC | n/a | n/a | n/a |
| Mauritius | Virtual Asset Broker-Dealer (Class M) | FSC | n/a | MUR 2,000,000 | n/a |
| Mauritius | Virtual Asset Wallet Services (Class O) | FSC | n/a | n/a | n/a |
| Mauritius | Virtual Asset Custodian (Class R) | FSC | n/a | MUR 5,000,000 | n/a |
| Mauritius | Virtual Asset Market Place (Class S) | FSC | n/a | MUR 6,500,000 | n/a |
| Seychelles | Virtual Asset Service Provider Licence / RegistrationVirtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024 | FSA | n/a | SCR 75,000 | n/a |
| South Africa | Crypto Asset Service Provider licenceCrypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime) | FSCA | n/a | n/a | n/a |
| Switzerland | Financial intermediary / VASP SRO affiliation | FINMA | CHF 10,000,000 | CHF 1,600 | n/a |
| United Kingdom | Cryptoasset Business Registration (MLRs 2017) | FCA | n/a | GBP 11,260 | ~3 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Virtual Asset (Service Providers) Act (2024 Revision): Law 14 of 2020 (2024 Revision)
Sources
- cima.ky: registration requirements · retrieved 2026-09-24
- Virtual Asset (Service Providers) Act (2024 Revision) · retrieved 2026-09-24
- cima.ky: vasp faq · retrieved 2026-09-24
- cima.ky: vasp statistics · 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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