Quick Facts
| Parameter | Value |
|---|---|
| License name | Cayman VASP License |
| Country | Cayman Islands |
| Regulator | CIMA |
| What it covers | VASP Act 2020 (amended 2024) |
| Minimum capital | Substance-based |
| Timeline | 10–16 weeks |
What is the Cayman VASP License?
The Cayman VASP License is a regulator authorisation issued by CIMA that allows a regulated entity in Cayman Islands to provide the services covered by the regime. Tightened requirements post-2024 — substance is non-negotiable.
Who needs a Cayman VASP License?
Operators offering services that fall within the activity definition supervised by CIMA. The activity scope captures vasp act 2020 (amended 2024) — and you should treat anything within or adjacent to that scope as caught until the structure has been opined on.
How the Cayman VASP License application works
The application is run as a structured five-stage workstream: scoping and gap analysis, incorporation and substance, AML/KYC programme drafting, regulator submission and RFI cycles, and post-licence onboarding. Total time from kickoff to authorisation is 10–16 weeks.
Cost of the Cayman VASP License
The total first-year cost combines: regulator fee, statutory capital tied up at Substance-based, legal fees confirmed at engagement, substance (resident director, office, AML officer where required), and the first year of ongoing supervision. We provide a fixed-scope quote at engagement so the number is not a moving target.
Pitfalls to avoid
- Mismatched substance. Paper directors and serviced offices are detected at first examination. Substance must be substantive;
- Generic AML programmes. CIMA reads policies as a competency signal — generic templates are visible;
- Banking afterthoughts. A licence without a bank account is a paperweight. Banking is part of the engagement, not bolted on after authorisation;
- Ignoring the year-one supervision burden. Authorisation is the start. Annual audit, AML refresh and material-change notifications are calendared from day one.
Frequently asked questions
What does the Cayman VASP License cover?
The Cayman VASP License authorises vasp act 2020 (amended 2024). It is supervised by CIMA. Tightened requirements post-2024 — substance is non-negotiable.
What is the timeline for the Cayman VASP License?
Typical timeline is 10–16 weeks from kickoff to authorisation. Variance comes from RFI cycles and the quality of the application file at submission, not from the published schedule.
What is the minimum capital for the Cayman VASP License?
Statutory capital is Substance-based. Capital is one input — substance, governance and the AML programme usually drive the application outcome more than the capital line on its own.
How does the Cayman VASP License fit alongside other Cayman Islands licences?
Most operating models in Cayman Islands combine Cayman VASP License with one of the other available regimes — see the full list on the Cayman Islands page.
Who supervises Cayman VASP License authorisation in Cayman Islands?
CIMA is the supervising authority. The same regulator handles ongoing supervision after authorisation, including annual returns and material-change notifications.