Regulator · Cayman Islands

Cayman Islands Monetary Authority (CIMA): register, licences and requirements

CIMA is the Cayman Islands' financial regulator, supervising banks, trusts, insurers, investment funds, securities firms and virtual asset service providers (VASPs). For crypto, it operates a two-phase VASP regime under the Virtual Asset (Service Providers) Act: registration since 2020, plus a licence since 1 April 2025 for custody and trading-platform services, with 18 VASPs registered as of Q4 2025 and an optional statutory sandbox licence.

Last verified 2026-09-24Markdown · Data (CC BY 4.0)
Cayman Islands Monetary Authority: regulatorCIMA

How to check a firm on the CIMA register

Type a full or partial entity name and optionally filter by sector (e.g. Virtual Asset Service Providers, Banking, Trust). Results list the entity's reference number, name, licence/registration type, and status with its effective date.4

At a glance

Official nameCayman Islands Monetary Authority
JurisdictionCayman Islands
TypeIntegrated financial regulator
HeadquartersGeorge Town, Grand Cayman1
Founded19972
Websitecima.ky3
Public registerOfficial public register4
Licence types in the Atlas7

What CIMA supervises

CIMA is the Cayman Islands' primary financial services regulator: it manages the local currency, supervises banks, trusts, insurers, investment funds, securities and virtual asset service providers, and advises the government on financial regulation.3

  • banking3
  • trust companies3
  • investment funds (mutual funds and private funds)10
  • securities investment business11
  • virtual asset service providers (VASPs)12
  • insurance3
  • money services businesses and company managers3

Licences CIMA issues

Lesser-known services for applicants

Not published

Pre-application meeting / pre-assessment

For VASPs, entities without REEFS access or with Travel Rule questions can reach CIMA directly at vaspinfo@cima.ky before applying; an initial VASP assessment fee of KYD 1,000 is payable with the application.5

Not published

Innovation hub

The regulator does not publish this.

Not published · statutory

Regulatory sandbox

The Virtual Asset (Service Providers) Act lets a fintech service provider apply to CIMA for an optional sandbox licence, in the manner CIMA specifies, giving temporary, conditional authorisation to test virtual asset business models before full registration or licensing.6

Application portal: REEFS (Regulatory Enhanced Electronic Forms Submission), https://reefs.cimaconnect.com: CIMA's online system for licence applications, filings and change requests7

Fee schedule: CIMA Fee Schedule effective 1 January 2026, covering application and annual fees for all CIMA-regulated entities including VASPs, funds, securities and banks (PDF; specific figures not machine-extractable from the file).8

Compare with other regulators: pre-application meetings · sandboxes and innovation hubs.

Statistics

Number of licence holders by licence typeBank Licence (Category A and C76Regulated Mutual Fund (registe13,013Registered Private Fund under 18,132Securities Investment Business451,337Trust Licence / Nominee Trust 11Virtual Asset Service Provider18
Current licence holders in the official register131010141315
  • 18 VASPs registered with CIMA as of Q4 2025 (Registration Statistics)15
  • 1,337 registered persons and 45 licensees under the Securities Investment Business Act as of Q1 202614
  • 76 licensed banks (11 Category A, 65 Category B) as of Q2 202613
  • 13,013 total mutual funds and 18,132 private funds registered/licensed as of Q2 202610

Fees and timelines

LicenceFeeAmount
Virtual Asset Service Provider RegistrationapplicationKYD 1,000 initial assessment fee5
Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2)applicationKYD 5,0009

Changing the owner of a licensed firm

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.16

Buying a company that already holds one of these licences is often faster than applying. See ready-made licensed companies · funds asset management · crypto digital assets.

Laws CIMA applies

Recent and upcoming changes

  • 2025-04-01: VASP Act Phase 2 licensing regime commenced for virtual asset custody and trading-platform services; existing registered persons had 90 days (to 2025-06-29) to apply for a licence.17
  • 2025-12-01: CIMA's new VASP Financial Returns form took effect for all Virtual Asset Service Providers.18
  • 2026-02-04: CIMA revised the fees payable by regulated Mutual Funds and regulated Private Funds.18

Contacts and public register

Address: Pavilion East, Cricket Square, 205 Elgin Avenue, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands1
Website: cima.ky3

Check whether a firm is licensed: official register4.

Frequently asked questions

What does CIMA license for crypto businesses?

CIMA regulates virtual asset service providers (VASPs) under the Virtual Asset (Service Providers) Act. Most VASPs need only registration; those offering custody or operating a trading platform have needed a full licence since Phase 2 commenced on 1 April 2025. As of Q4 2025, CIMA listed 18 registered VASPs.

Does the Cayman Islands have a crypto sandbox?

Yes. The VASP Act lets a fintech service provider apply for an optional statutory sandbox licence, letting CIMA authorise limited, time-bound testing of a virtual asset business model on conditions CIMA sets, ahead of full registration or licensing.

How much does a CIMA VASP application cost?

CIMA charges an initial assessment fee of KYD 1,000 at application for VASP registration. Reporting from KPMG puts the application fee for the Phase 2 VASP licence (custody/trading platforms) at KYD 5,000; annual fees vary by activity and are set in CIMA's fee schedule.

How do I check if a company is CIMA-registered?

Use CIMA's public entity search at cima.ky/search-entities-cima, searching by full or partial entity name and optionally filtering by sector (e.g. Virtual Asset Service Providers). An active entry shows the entity's reference number, licence/registration type, and status with its effective date.

What other licences does CIMA issue besides VASP?

CIMA also licenses banks (76 as of Q2 2026) and trust companies under the Banks and Trust Companies Act, mutual funds and private funds under their respective Acts (13,013 mutual funds and 18,132 private funds as of Q2 2026), and securities investment business (45 licensees, 1,337 registered persons as of Q1 2026).

Does a change of ownership need CIMA's approval?

For VASPs, CIMA's prior approval is required once a share issue or transfer reaches 10% or more of the entity (VASP Act s.28); acting without approval is an offence. Banks, trust companies and securities licensees face a stricter rule requiring approval for any transfer.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. cima.ky: contact us · retrieved 2026-09-24
  2. en.wikipedia.org: Cayman Islands Monetary Authority · secondary · retrieved 2026-09-24
  3. cima.ky · retrieved 2026-09-24
  4. cima.ky: search entities cima · retrieved 2026-09-24
  5. cima.ky: vasp faq · retrieved 2026-09-24
  6. cima.ky: RegulatoryPolicy RegistrationorLicensingofVASPs 1716492494 (PDF) · retrieved 2026-09-24
  7. cima.ky: reefs fact sheet · retrieved 2026-09-24
  8. cima.ky: WebsiteFeeSchedule1January2026Update 1770328410 (PDF) · retrieved 2026-09-24
  9. kpmg.com: vasps · secondary · retrieved 2026-09-24
  10. cima.ky: investment statistics · retrieved 2026-09-24
  11. cima.ky: securities licensing authorisation requirements · retrieved 2026-09-24
  12. cima.ky: registration requirements · retrieved 2026-09-24
  13. cima.ky: banking statistics · retrieved 2026-09-24
  14. cima.ky: securities statistics · retrieved 2026-09-24
  15. cima.ky: vasp statistics · retrieved 2026-09-24
  16. maples.com: cima change of control process a guide for cayman islands re · secondary · retrieved 2026-09-24
  17. cima.ky: amendments to the virtual asset service providers act effect · retrieved 2026-09-24
  18. cima.ky: general industry notices · retrieved 2026-09-24

Applying to CIMA, or buying a firm it licenses?

Tell us your business model and target markets. We check the fit before you spend on an application, then handle the licence end to end.

A free preliminary assessment: we check your business model against the licence before you spend on an application. We handle this licence and any other fintech licence, including jurisdictions the Atlas does not cover yet.