{"kind":"expression","expression":{"expr_id":"627","doc_id":"627","label":"2026 Revision","is_as_enacted":"f","commenced_on":null,"superseded_on":null,"valid_from":null,"valid_to":null,"is_current":"t","incorporating":null,"akn_expr_iri":"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/act\/sl\/1989\/2\", \"expression\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01\", \"manifestation\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01.pdf\"}, \"pdf\": {\"md5\": \"8d76442a4c107fb063765f0a2c6c200c\", \"path\": \"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.pdf\", \"pages\": 24, \"filename\": \"1989-0002_2026 Revision.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 5290, \"paragraph_count\": 17, \"text_char_count\": 33505}, \"usage\": null, \"method\": \"pymupdf-text\", \"version\": \"kyleg-akn-1.0\", \"extracted_at\": \"2026-06-22\"}, \"classification\": \"text_layer\", \"validation_flags\": [], \"docai_processor_id\": null}, \"akomaNtoso\": {\"act\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"Banks and Trust Companies Act (2025 Revision) BANKS AND TRUST COMPANIES (LICENCE APPLICATIONS AND FEES) REGULATIONS (2026 Revision) PUBLISHING DETAILS Revised under the authority of the Law Revision Act (2020 Revision). The Banks and Trust Companies (Licence Applications) Regulations, 1989 made the 9th June, 1989 consolidated with Law 4 of 1997 (part) passed the 24th March, 1997, Law 56 of 2020 passed the 7th December, 2020, and with the \u2014 Banks and Trust Companies (Fees) Regulations, 1989 made the 9th June, 1989 Banks and Trust Companies (Fees) (Amendment) Regulations, 1990 made the 24th July, 1990 Banks and Trust Companies (Fees) (Amendment) Regulations, 1995 made the 3rd March, 1995 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (Applicants\u2019 References) Regulations, 2001 made the 12th April, 2001 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (Variation of Fees) Regulations, 2001, made the 29th May, 2001 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (Further Variation of Fees) Regulations, 2001 made the 27th December, 2001 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2002 made the 2nd January, 2002 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2002 made the 16th October, 2002 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2006 made the 30th May, 2006 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (No. 2) Regulations, 2006 made the 12th December, 2006 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2009 made the 27th October, 2009 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2012 made the 12th December, 2012 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2020 made 9th June, 2020 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 made 17th December, 2024. Consolidated and revised this 31st day of December, 2025. Note (not forming part of these Regulations): This revision replaces the 2021 Revision which should now be discarded. Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Arrangement of Regulations Banks and Trust Companies Act (2025 Revision) BANKS AND TRUST COMPANIES (LICENCE APPLICATIONS AND FEES) REGULATIONS (2026 Revision) Arrangement of Regulations Regulation 1. 2. 3. 4. 5. 6.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"7A.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"SCHEDULE Requirements for an application for a licence ENDNOTES Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation 1 Banks and Trust Companies Act (2026 Revision) BANKS AND TRUST COMPANIES (LICENCE APPLICATIONS AND FEES) REGULATIONS (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Citation 1. These Regulations may be cited as the Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Definitions 2. In these Regulations \u2014 \u201cPrivate Banking Services\u201d includes banking business conducted with persons of high net worth of over $800,000 or such other amount as may be determined by the Authority; \u201cresidents\u201d means individuals or businesses that \u2014 (a) reside for not less than one year in the Islands; (b) have a physical presence in the Islands; or (c) engage in significant economic activity in the Islands; and \u201cto provide principal office services\u201d means to provide, for the purposes of section 6(2)(a) of the Banks and Trust Companies Act (2025 Revision), a place of business, including resources, staff, facilities, books and records. Regulation 3 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Information to be submitted by branch 3. Where an applicant is a branch of a bank or trust company incorporated and licensed in a country that is designated, in accordance with section 5(2) of the Proceeds of Crime Act (2025 Revision), as having measures for combating money laundering and the financing of terrorism which are equivalent to those of the Islands the Authority may, in lieu of the information required in paragraph 10 of the Schedule, accept from the applicant such other information as the Authority considers satisfactory.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Particulars, etc., to be contained in application for licence 4. The information and particulars to be contained in an application for a licence under section 6, and the details and things which are to accompany them, are set out in the Schedule hereto.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Fees payable for first grant of licence 5. The following fees are prescribed to be payable on the first grant of a licence under section 6(7) \u2014 (a) an \u201cA\u201d licence alone, granted without restrictions as to the carrying on of banking business within the Islands $750,000 (b) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees $300,000 (ba) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees and Private Banking Services to residents $350,000 (bb) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to less than five banks and Private Banking Services to residents $250,000 (c) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands $160,000 (d) an \u201cA\u201d licence and a Trust licence, granted without restrictions as to the carrying on of banking business within the Islands $750,000 (e) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business $300,000 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation 6 within the Islands and with permission to provide principal office services to five or more other licensees (ea) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees and Private Banking Services to residents $350,000 (eb) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to less than five banks and Private Banking Services to residents $250,000 (f) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands $160,000 (g) a \u201cB\u201d licence alone, $70,000 (h) a \u201cB\u201d licence and a Trust licence $70,000 (i) a Trust licence alone $90,000 (j) a Restricted \u201cB\u201d licence alone $45,000 (k) a Restricted \u201cB\u201d licence and a Restricted Trust licence (l) a Restricted Trust licence alone (m) a Nominee (Trust) licence $45,000 $8,000 $8,000\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Fees payable for renewal of licence 6. The following fees are prescribed to be payable, after the first grant of a licence, annually under section 6(8) \u2014 (a) an \u201cA\u201d licence alone, granted without restrictions as to the carrying on of banking business within the Islands $1,000,000 (b) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees $300,000 (ba) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five $350,000 Regulation 6 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) or more other licensees and Private Banking Services to residents (bb) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to less than five banks and Private Banking Services to residents $250,000 (c) an \u201cA\u201d licence alone, granted with restrictions as to the carrying on of banking business within the Islands $200,000 (d) an \u201cA\u201d licence and a Trust licence, granted without restrictions as to the carrying on of banking business within the Islands $1,000,000 (e) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees $300,000 (ea) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to five or more other licensees and Private Banking Services to residents $350,000 (eb) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands and with permission to provide principal office services to less than five banks and Private Banking Services to residents $250,000 (f) an \u201cA\u201d licence and a Trust licence, granted with restrictions as to the carrying on of banking business within the Islands $200,000 (g) a \u201cB\u201d licence alone, in any case where the licence holder is a branch of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation 6 (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI$80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI$90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (h) a \u201cB\u201d licence alone, in any case where the licence holder is a subsidiary of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI$80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI$90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (i) a \u201cB\u201d licence alone, in any case where the licence holder is not a subsidiary or branch of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; Regulation 6 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI$80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI$90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (j) a \u201cB\u201d licence and a Trust licence, in any case where the licence holder is a branch of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI$80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI$90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (k) a \u201cB\u201d licence and a Trust licence, in any case where the licence holder is a subsidiary of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation 6 (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI$80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI$90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (l) a \u201cB\u201d licence and a Trust licence, in any case where the licence holder is not a subsidiary or branch of a bank licensed in a country or territory outside the Islands \u2014 (i) for licensees with assets of not more than US$100 million, a fee of CI$60,000; (ii) for licensees with assets of more than US$100 million but not more than US$500 million, a fee of CI$70,000; (iii) for licensees with assets of more than US$500 million but not more than US$1.0 billion, a fee of CI $80,000; (iv) for licensees with assets of more than US$1.0 billion but not more than US$5.0 billion, a fee of CI $90,000; (v) for licensees with assets of more than US$5.0 billion, a fee of CI$100,000, with the calculation of assets for the determination of the relevant fee, based on the average of total assets at the end of each of the four calendar quarters; (m) a Trust licence alone, in any case where the licence holder is a branch of a bank licensed in a country or territory outside the Islands; $95,500 (n) a Trust licence alone, in any case where the licence holder is a subsidiary of a bank licensed in a country or territory outside the Islands; $95,500 Regulation 7 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) (o) a Trust licence alone, in any case where the licence holder is not a subsidiary or branch of a bank licensed in a country or territory outside the Islands; $95,500 (p) a Restricted \u201cB\u201d licence alone, in any case where the licence holder is a branch of a  bank licensed in a country or territory outside the Islands; $37,000 (q) a Restricted \u201cB\u201d licence alone, in any case where the licence holder is a subsidiary of a bank licensed in a country or territory outside the Islands; $37,000 (r) a Restricted \u201cB\u201d licence alone, in any case where the licence holder is not a subsidiary or branch of a bank licensed in a country or territory outside the Islands; $40,000 (s) a Restricted \u201cB\u201d licence and a Restricted  Trust licence, in any case where the licence holder is a branch of a bank licensed in a country or territory outside the Islands; $37,000 (t) a Restricted \u201cB\u201d licence and a Restricted Trust licence, in any case where the licence holder is a subsidiary of a bank licensed in a country or territory outside the Islands; $37,000 (u) a Restricted \u201cB\u201d licence and a Restricted Trust licence, in any case where the licence holder is not a subsidiary or branch of a bank licensed in a country or territory outside the Islands; $40,000 (v) a Restricted Trust licence alone $8,000 (w) a Nominee (Trust) licence $7,000 7. Fees payable for registration of controlled subsidiary 7. The following fees are prescribed to be payable for the registration of a controlled subsidiary under section 5(4) \u2014 (a) at the time of registration $8,000 (b) on or before the 31st January every year thereafter during the continuation of the registration $8,000 7A. Annual fees in relation to provision of registered office services 7A. The annual fee payable by licensees under section 15A is one hundred dollars. Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation 8 8. Waiver of fees: Cayman Brac, Little Cayman 8. The Governor may, from time to time, waive or reduce any or all of the fees specified in these regulations in relation to any person or group of persons in Cayman Brac or Little Cayman. Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation SCHEDULE (regulation 4) Requirements for an application for a licence 1. The name of the bank or trust company (hereinafter referred to as \u201cthe applicant\u201d) in respect of which the licence is sought. 2. Evidence of the granting and currency of any approval required under section 11 to the use of any word in the title or description of the applicant. 3. If not within the Islands, the address of the principal office of the applicant and of its registered office if it is different. 4. The names and addresses of the two individuals or the body authorised under section 6(2) to be the agents in the Islands of the applicant. 5. If the applicant is a company to which Part 9 of the Companies Act (2026 Revision) applies, the names and addresses of some one or more persons authorised under paragraph (c) of section 206(2) of that Act to accept service on its behalf of process or notices. 6. If the applicant is a company, evidence of its incorporation in the Islands, or outside them, as the case may be. 7. A copy of the memorandum and articles of association, act, statute, charter, partnership agreement or other instrument constituting and defining the constitution of the applicant verified by a statutory declaration made by one of its directors, partners or its secretary and \u2014 (a) in the case of an applicant which is a company incorporated in the Islands, certified under section 27 of the Companies Act (2026 Revision); and (b) in the case of an applicant which is incorporated under any law other than the law of the Islands, certified and authenticated under the public seal of the country, city or place under the law of which it is incorporated and, if such instrument is not written in the English language, a certified English translation thereof. 8. Where appropriate, a statement in writing in a form acceptable to the Inspector from the authority responsible for the administration of the laws relating to banking or trust businesses, as the case may be, and the supervision of such businesses, in the country in which the applicant or its parent company is incorporated that such authority is aware of the application.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"If the applicant is a company incorporated in the Islands \u2014 Regulation Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) (a) the full name, address and nationality of each shareholder who holds more than ten per cent of the applicant\u2019s issued share capital or total voting rights; (b) the annual accounts, for the two years immediately preceding the year of application, of each shareholder which is a body corporate holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights, together with similar accounts for the parent body, if any, of each such body corporate; (c) not less than three references acceptable to the Authority, including one character reference for, and one reference verifying the good financial standing of \u2014 (i) each director, manager and officer of the applicant; and (ii) each shareholder and each beneficial shareholder who is a natural person holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights, and, for each such director, manager, officer or shareholder, a police or other certificate satisfactory to the Authority that such director, manager, officer or shareholder has not been convicted of a serious crime or any offence involving dishonesty; (d) the full names, addresses and nationalities of all directors, managers and officers of the applicant; (e) a questionnaire approved by the Authority and completed by all the directors, managers and officers of the applicant; (f) a questionnaire approved by the Authority and completed by each shareholder or beneficial shareholder who is a natural person holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights; (g) evidence acceptable to the Authority of the availability to the applicant at all times of adequate professional knowledge and experience in the banking or trust business, as the case may be, and the names of at least two of its directors actively engaged in the business of the applicant, one of whom shall possess a sound professional knowledge of, and experience in, the banking or trust business, as the case may be; (h) the names and addresses of the registered offices of all subsidiary companies of the applicant together with a statement as to how much of the capital of each such company constitutes an asset of the applicant; (i) the name and address of the firm of auditors practising in the Islands and approved by the Authority appointed to audit the accounts of the applicant; (j) a statement giving the date for the drawing up of the annual accounts of the applicant; Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation (k) details of the current business activities, if any, of the applicant and its proposed activities if the licence applied for is granted including \u2014 (i) its business aims; (ii) a detailed statement setting out its proposed initial assets and its proposed assets and expected liabilities at the end of each of the two years next succeeding the date of such grant together with an estimate of expected income; (iii) particulars of its management structure and personnel; (iv) a statement as to its customer base, including, in the case of an application for a Restricted licence, the names and addresses of its customers; and (v) a copy of its most recent balance sheet and details of its fee earnings, if any; and (l) requests for any exemption from the requirements of the Banks and Trust Companies Act (2025 Revision) sought by the applicant.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"If the applicant is a company incorporated outside the Islands \u2014 (a) a list certified by its secretary containing the names, addresses and nationalities of its directors and corporate officers; (b) a questionnaire approved by the Authority and completed by all the directors, managers and officers of the applicant; (c) a questionnaire approved by the Authority and completed by each shareholder or beneficial shareholder who is a natural person holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights; (d) a chart showing the relationship to its subsidiaries and affiliates and any holding company; (e) the name and address of its auditor; (f) a statement giving the date for the drawing up of its annual accounts; (g) a copy of its latest annual accounts and those of its holding company, if any; (h) a letter, or letters, addressed to the Governor under the hand of its presiding officer containing \u2014 (i) a statement describing in outline the history of the applicant and its present business activities; (ii) a brief description of each of its subsidiaries and affiliates; (iii) the reasons for wishing to obtain the licence sought and its business aims for the applicant; Regulation Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) (iv) evidence acceptable to the Authority of the professional knowledge of and experience in banking or trust business, as the case may be, of the directors and managers; (v) confirmation in writing under the hand of the presiding officer of the applicant and the presiding officer of its parent body, if any, that they concur in the making of the application; and (vi) requests for any exemption from the requirements of the Banks and Trust Companies Act (2025 Revision) sought by the applicant; (i) the annual accounts, for the two years immediately preceding the year of application, of each shareholder which is a body corporate holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights, together with similar accounts for the parent body, if any, of each such body corporate; (j) not less than three references acceptable to the Authority, including one character reference for, and one reference verifying the good financial standing of \u2014 (i) each director, manager and officer of the applicant; and (ii) each shareholder and each beneficial shareholder who is a natural person holding more than ten per cent of the applicant\u2019s issued share capital or total voting rights; and, for each such director, manager, officer or shareholder, a police or other certificate satisfactory to the Authority that such director, manager, officer or shareholder has not been convicted of a serious crime or any offence involving dishonesty; and (k) a statement in writing in a form acceptable to the Authority accepting legal responsibility for the obligations and liabilities of the applicant executed by and binding on the parent company, if any, of the applicant.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_11\", \"num\": \"11.\", \"text\": \"Each application for a Restricted \u201cB\u201d licence shall be accompanied by an undertaking in a form acceptable to the Authority that the applicant shall not receive or solicit by way of trade or business from persons other than those whose names and addresses are listed in the undertaking as required by paragraph (d) of section 6(5).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_12\", \"num\": \"12.\", \"text\": \"Each application for a Restricted Trust licence shall be accompanied by an undertaking in a form acceptable to the Authority that the applicant shall not undertake trust business for persons other than those whose names and addresses are listed in the undertaking as required by paragraph (e) of section 6(5).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_13\", \"num\": \"13.\", \"text\": \"Each applicant for an \u201cA\u201d, a \u201cB\u201d or a Trust licence shall furnish evidence acceptable to the Authority that it has a fully paid-up capital of not less than four hundred thousand dollars or its equivalent in other currencies, or such greater sum as may be determined by the Governor. Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) Regulation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_14\", \"num\": \"14.\", \"text\": \"Each applicant for a Restricted \u201cB\u201d or a Restricted Trust licence shall furnish evidence acceptable to the Authority that it has a fully paid-up capital of not less than twenty thousand dollars or its equivalent in other currencies, or such greater sum as may be determined by the Governor.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_15\", \"num\": \"15.\", \"text\": \"Each applicant for a Nominee (Trust) licence shall furnish a guarantee in a form approved by the Authority from the licensee of which the applicant is the whollyowned subsidiary, guaranteeing to meet the liabilities of the applicant up to the sum of two hundred thousand dollars. Such guarantee shall, among other things, expressly provide that its formal validity, effect and interpretation, and the rights and liabilities of the parties thereto, are governed exclusively by the law of the Islands and that the Courts (including the Court of Appeal) of the Islands shall have exclusive jurisdiction in respect of all or any of those matters.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_16\", \"num\": \"16.\", \"text\": \"The relevant application fee set out below \u2014 (a)  ten thousand dollars for an \u201cA\u201d licence alone; (b)  four thousand dollars for a \u201cB\u201d licence alone; (c)  three thousand, five hundred dollars for a trust licence alone; or (d)  three thousand, five hundred dollars for any other single licence under the Act. Publication in consolidated and revised form authorised by the Cabinet this 28th day of January, 2026. Kim Bullings Clerk of the Cabinet Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) ENDNOTES ENDNOTES Table of Legislation history: SL # Act\/Law # Legislation Commencement Gazette 66\/2024 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 1-Jan-2025 LG47\/2024\/s32 Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision) 12-Jan-2021 LG4\/2021\/s2 56\/2020 Citation of Acts of Parliament Act, 2020 3-Dec-2020 LG89\/2020\/s1 81\/2020 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2020 22-Jun-2020 LG46\/2020\/s2 E1\/2013 Erratum: Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations (2013 Revision) 11-Oct-2013 GE93\/2013\/p42 Banks and Trust Companies (Licence Applications and Fees) Regulations (2013 Revision) 11-Oct-2013 GE82\/2013\/s4 82\/2012 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2012 20-Dec-2012 GE129\/2012\/s1 Banks and Trust Companies (Licence Applications and Fees) Regulations (2011 Revision) 7-Nov-2011 G23\/2011\/s1 38\/2009 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2009 1-Jan-2010 GE72\/2009\/s3 Banks and Trust Companies (Licence Applications and Fees) Regulations (2007 Revision) 9-Jul-2007 G14\/2007\/s3 32\/2006 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (No. 2) Regulations, 2006 27-Dec-2006 G26\/2006\/s6 31\/2006 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2002 3-Jan-2002 GE2\/2002\/s1 30\/2001 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (Further Variation of Fees) Regulations, 2001 1-Jun-2001 GE11\/2001\/s2 29\/2001 Banks and Trust Companies (Licence Applications and Fees) (Amendment) (Applicants\u2019 References) Regulations, 30-Apr-2001 GE8\/2001\/s7 Banks and Trust Companies (Licence Applications and Fees) Regulations (1998 Revision) 16-Feb-1998 G4\/1998\/s2 4\/1997 Miscellaneous Provisions (Fees and Duties) (Temporary) Law, 1997 (part) 22-Apr-1997 GE4\/1997 Banks and Trust Companies (Licence Applications and Fees) Regulations (1997 Revision) 3-Feb-1997 G3\/1997\/s1 ENDNOTES Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) SL # Act\/Law # Legislation Commencement Gazette 22\/1995 Banks and Trust Companies (Fees) (Amendment) Regulations, 1995 6-Apr-1995 GE8\/1995\/s1 22\/1990 Banks and Trust Companies (Fees) (Amendment) Regulations, 1990 1-Jan-1991 GE31July\/1990\/s1 2\/1989 Banks and Trust Companies (Fees) Regulations, 1989 26-Jun-1989 GE26Jun\/1989\/s1 Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) ENDNOTES ENDNOTES Banks and Trust Companies (Licence Applications and Fees) Regulations (2026 Revision) (Price: $4.80)\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, 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\"identification\": {\"source\": \"#cilegis\", \"FRBRWork\": {\"FRBRuri\": \"\/akn\/ky\/act\/sl\/1989\/2\", \"FRBRdate\": [{\"date\": \"2026-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/sl\/1989\/2\/!main\", \"FRBRalias\": [{\"name\": \"cmsId\", \"value\": \"1989-0002\"}], \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRnumber\": \"2 of 1989\", \"FRBRcountry\": \"ky\", \"FRBRsubtype\": \"subordinate\"}, \"FRBRExpression\": {\"FRBRuri\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01\", \"FRBRdate\": [{\"date\": \"2026-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01\/!main\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRlanguage\": \"eng\"}, \"FRBRManifestation\": {\"FRBRuri\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01.xml\", \"FRBRdate\": [{\"date\": \"2026-06-22\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/sl\/1989\/2\/eng@2026-01-01.xml\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRformat\": \"application\/xml\"}}}, \"name\": \"act\", \"header\": {\"title\": \"Banks and Trust Companies (Licence Applications and Fees) Regulations\", \"actNumber\": \"2 of 1989\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2025 Revision)\nBANKS AND TRUST COMPANIES\n(LICENCE APPLICATIONS AND FEES)\nREGULATIONS\n(2026 Revision)\n\nSupplement No. 3 published with Legislation Gazette No. 4 of 29th January, 2026.\n\nPage 2\nRevised as at 31st December, 2025\nc\n\nPUBLISHING DETAILS\nRevised under the authority of the Law Revision Act (2020 Revision).\n\nThe Banks and Trust Companies (Licence Applications) Regulations, 1989 made the 9th\nJune, 1989 consolidated with Law 4 of 1997 (part) passed the 24th March, 1997, Law 56\nof 2020 passed the 7th December, 2020, and with the \u2014\n\nBanks and Trust Companies (Fees) Regulations, 1989 made the 9th June, 1989\nBanks and Trust Companies (Fees) (Amendment) Regulations, 1990 made the 24th\nJuly, 1990\nBanks and Trust Companies (Fees) (Amendment) Regulations, 1995 made the 3rd\nMarch, 1995\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\n(Applicants\u2019 References) Regulations, 2001 made the 12th April, 2001\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\n(Variation of Fees) Regulations, 2001, made the 29th May, 2001\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\n(Further Variation of Fees) Regulations, 2001 made the 27th December, 2001\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2002 made the 2nd January, 2002\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2002 made the 16th October, 2002\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2006 made the 30th May, 2006\nBanks and Trust Companies (Licence Applications and Fees) (Amendment) (No. 2)\nRegulations, 2006 made the 12th December, 2006\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2009 made the 27th October, 2009\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2012 made the 12th December, 2012\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2020 made 9th June, 2020\nBanks and Trust Companies (Licence Applications and Fees) (Amendment)\nRegulations, 2024 made 17th December, 2024.\n\nConsolidated and revised this 31st day of December, 2025.\n\nNote (not forming part of these Regulations): This revision replaces the 2021 Revision\nwhich should now be discarded.\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nArrangement of Regulations\n\nc\nRevised as at 31st December, 2025\nPage 3\n\nCAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2025 Revision)\nBANKS AND TRUST COMPANIES (LICENCE\nAPPLICATIONS AND FEES) REGULATIONS\n(2026 Revision)\nArrangement of Regulations\nRegulation\nPage\n1.\nCitation ......................................................................................................................................5\n2.\nDefinitions ..................................................................................................................................5\n3.\nInformation to be submitted by branch .......................................................................................6\n4.\nParticulars, etc., to be contained in application for licence .........................................................6\n5.\nFees payable for first grant of licence ........................................................................................6\n6.\nFees payable for renewal of licence ...........................................................................................7\n7.\nFees payable for registration of controlled subsidiary ............................................................... 12\n7A.\nAnnual fees in relation to provision of registered office services ............................................... 12\n8.\nWaiver of fees: Cayman Brac, Little Cayman ........................................................................... 13\nSCHEDULE\n15\nRequirements for an application for a licence\n15\nENDNOTES\n21\nTable of Legislation history: ............................................................................................................... 21\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 1\n\nc\nRevised as at 31st December, 2025\nPage 5\n\nCAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2026 Revision)\nBANKS AND TRUST COMPANIES (LICENCE\nAPPLICATIONS AND FEES) REGULATIONS\n(2025 Revision)\n\n1.\nCitation\n1.\nThese Regulations may be cited as the Banks and Trust Companies (Licence\nApplications and Fees) Regulations (2026 Revision).\n2.\nDefinitions\n2.\nIn these Regulations \u2014\n\u201cPrivate Banking Services\u201d includes banking business conducted with persons\nof high net worth of over $800,000 or such other amount as may be determined\nby the Authority;\n\u201cresidents\u201d means individuals or businesses that \u2014\n(a)\nreside for not less than one year in the Islands;\n(b) have a physical presence in the Islands; or\n(c)\nengage in significant economic activity in the Islands; and\n\u201cto provide principal office services\u201d means to provide, for the purposes of\nsection 6(2)(a) of the Banks and Trust Companies Act (2025 Revision), a place\nof business, including resources, staff, facilities, books and records.\n\nRegulation 3\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 6\nRevised as at 31st December, 2025\nc\n\n3.\nInformation to be submitted by branch\n3.\nWhere an applicant is a branch of a bank or trust company incorporated and licensed\nin a country that is designated, in accordance with section 5(2) of the Proceeds of\nCrime Act (2025 Revision), as having measures for combating money laundering and\nthe financing of terrorism which are equivalent to those of the Islands the Authority\nmay, in lieu of the information required in paragraph 10 of the Schedule, accept from\nthe applicant such other information as the Authority considers satisfactory.\n4.\nParticulars, etc., to be contained in application for licence\n4.\nThe information and particulars to be contained in an application for a licence under\nsection 6, and the details and things which are to accompany them, are set out in the\nSchedule hereto.\n5.\nFees payable for first grant of licence\n5.\nThe following fees are prescribed to be payable on the first grant of a licence under\nsection 6(7) \u2014\n(a)\nan \u201cA\u201d licence alone, granted without restrictions as to\nthe carrying on of banking business within the Islands\n$750,000\n(b) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to\nfive or more other licensees\n$300,000\n(ba) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to\nfive or more other licensees and Private Banking\nServices to residents\n$350,000\n(bb) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to\nless than five banks and Private Banking Services to\nresidents\n$250,000\n(c)\nan \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands\n$160,000\n(d) an \u201cA\u201d licence and a Trust licence, granted without\nrestrictions as to the carrying on of banking business\nwithin the Islands\n$750,000\n(e)\nan \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\n$300,000\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 6\n\nc\nRevised as at 31st December, 2025\nPage 7\n\nwithin the Islands and with permission to provide\nprincipal office services to five or more other licensees\n(ea) an \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands and with permission to provide\nprincipal office services to five or more other licensees\nand Private Banking Services to residents\n$350,000\n(eb) an \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands and with permission to provide\nprincipal office services to less than five banks and\nPrivate Banking Services to residents\n$250,000\n(f)\nan \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands\n$160,000\n(g) a \u201cB\u201d licence alone,\n$70,000\n(h) a \u201cB\u201d licence and a Trust licence\n$70,000\n(i)\na Trust licence alone\n$90,000\n(j)\na Restricted \u201cB\u201d licence alone\n$45,000\n(k) a Restricted \u201cB\u201d licence and a Restricted Trust licence\n(l)\na Restricted Trust licence alone\n(m) a Nominee (Trust) licence\n$45,000\n$8,000\n$8,000\n6.\nFees payable for renewal of licence\n6.\nThe following fees are prescribed to be payable, after the first grant of a licence,\nannually under section 6(8) \u2014\n(a)\nan \u201cA\u201d licence alone, granted without restrictions as to the\ncarrying on of banking business within the Islands\n$1,000,000\n(b) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to five\nor more other licensees\n$300,000\n(ba) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to five\n$350,000\n\nRegulation 6\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 8\nRevised as at 31st December, 2025\nc\n\nor more other licensees and Private Banking Services to\nresidents\n(bb) an \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands and\nwith permission to provide principal office services to less\nthan five banks and Private Banking Services to residents\n$250,000\n\n(c)\nan \u201cA\u201d licence alone, granted with restrictions as to the\ncarrying on of banking business within the Islands\n$200,000\n(d) an \u201cA\u201d licence and a Trust licence, granted without\nrestrictions as to the carrying on of banking business\nwithin the Islands\n$1,000,000\n(e)\nan \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands and with permission to provide\nprincipal office services to five or more other licensees\n$300,000\n(ea) an \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands and with permission to provide\nprincipal office services to five or more other licensees\nand Private Banking Services to residents\n$350,000\n(eb) an \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands and with permission to provide\nprincipal office services to less than five banks and Private\nBanking Services to residents\n$250,000\n(f)\nan \u201cA\u201d licence and a Trust licence, granted with\nrestrictions as to the carrying on of banking business\nwithin the Islands\n$200,000\n(g) a \u201cB\u201d licence alone, in any case where the licence holder\nis a branch of a bank licensed in a country or territory\noutside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 6\n\nc\nRevised as at 31st December, 2025\nPage 9\n\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of\nCI$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of\nCI$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000,\n\nwith the calculation of assets for the determination of the\nrelevant fee, based on the average of total assets at the end\nof each of the four calendar quarters;\n\n(h) a \u201cB\u201d licence alone, in any case where the licence holder\nis a subsidiary of a bank licensed in a country or territory\noutside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of\nCI$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of\nCI$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000, with the calculation of assets\nfor the determination of the relevant fee, based on the\naverage of total assets at the end of each of the four\ncalendar quarters;\n\n(i)\na \u201cB\u201d licence alone, in any case where the licence holder\nis not a subsidiary or branch of a bank licensed in a country\nor territory outside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n\nRegulation 6\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 10\nRevised as at 31st December, 2025\nc\n\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of\nCI$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of\nCI$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000,\nwith the calculation of assets for the determination of the\nrelevant fee, based on the average of total assets at the end\nof each of the four calendar quarters;\n\n(j)\na \u201cB\u201d licence and a Trust licence, in any case where the\nlicence holder is a branch of a bank licensed in a country\nor territory outside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of\nCI$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of\nCI$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000,\n\nwith the calculation of assets for the determination of the\nrelevant fee, based on the average of total assets at the end\nof each of the four calendar quarters;\n\n(k) a \u201cB\u201d licence and a Trust licence, in any case where the\nlicence holder is a subsidiary of a bank licensed in a\ncountry or territory outside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 6\n\nc\nRevised as at 31st December, 2025\nPage 11\n\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of\nCI$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of\nCI$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000, with the calculation of assets\nfor the determination of the relevant fee, based on the\naverage of total assets at the end of each of the four\ncalendar quarters;\n(l)\na \u201cB\u201d licence and a Trust licence, in any case where the\nlicence holder is not a subsidiary or branch of a bank\nlicensed in a country or territory outside the Islands \u2014\n\n(i)\nfor licensees with assets of not more than US$100\nmillion, a fee of CI$60,000;\n(ii) for licensees with assets of more than US$100\nmillion but not more than US$500 million, a fee of\nCI$70,000;\n(iii) for licensees with assets of more than US$500\nmillion but not more than US$1.0 billion, a fee of CI\n$80,000;\n(iv) for licensees with assets of more than US$1.0 billion\nbut not more than US$5.0 billion, a fee of CI\n$90,000;\n(v) for licensees with assets of more than US$5.0 billion,\na fee of CI$100,000,\n\nwith the calculation of assets for the determination of the\nrelevant fee, based on the average of total assets at the end\nof each of the four calendar quarters;\n\n(m) a Trust licence alone, in any case where the licence holder\nis a branch of a bank licensed in a country or territory\noutside the Islands;\n$95,500\n(n) a Trust licence alone, in any case where the licence holder\nis a subsidiary of a bank licensed in a country or territory\noutside the Islands;\n$95,500\n\nRegulation 7\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 12\nRevised as at 31st December, 2025\nc\n\n(o) a Trust licence alone, in any case where the licence holder\nis not a subsidiary or branch of a bank licensed in a country\nor territory outside the Islands;\n$95,500\n(p) a Restricted \u201cB\u201d licence alone, in any case where the\nlicence holder is a branch of a  bank licensed in a country\nor territory outside the Islands;\n$37,000\n(q) a Restricted \u201cB\u201d licence alone, in any case where the\nlicence holder is a subsidiary of a bank licensed in a\ncountry or territory outside the Islands;\n$37,000\n(r)\na Restricted \u201cB\u201d licence alone, in any case where the\nlicence holder is not a subsidiary or branch of a bank\nlicensed in a country or territory outside the Islands;\n$40,000\n(s)\na Restricted \u201cB\u201d licence and a Restricted  Trust licence,\nin any case\nwhere the licence holder is a branch of a\nbank licensed in a country or territory outside the Islands;\n$37,000\n(t)\na Restricted \u201cB\u201d licence and a Restricted Trust licence, in\nany case where the licence holder is a subsidiary of a bank\nlicensed in a country or territory outside the Islands;\n$37,000\n(u) a Restricted \u201cB\u201d licence and a Restricted Trust licence, in\nany case where the licence holder is not a subsidiary or\nbranch of a bank licensed in a country or territory outside\nthe Islands;\n$40,000\n(v) a Restricted Trust licence alone\n$8,000\n(w) a Nominee (Trust) licence\n $7,000\n\n7.\nFees payable for registration of controlled subsidiary\n7.\nThe following fees are prescribed to be payable for the registration of a controlled\nsubsidiary under section 5(4) \u2014\n(a)\nat the time of registration\n$8,000\n(b) on or before the 31st January every year thereafter\nduring the continuation of the registration\n$8,000\n7A.\nAnnual fees in relation to provision of registered office services\n7A. The annual fee payable by licensees under section 15A is one hundred dollars.\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 8\n\nc\nRevised as at 31st December, 2025\nPage 13\n\n8.\nWaiver of fees: Cayman Brac, Little Cayman\n8.\nThe Governor may, from time to time, waive or reduce any or all of the fees specified\nin these regulations in relation to any person or group of persons in Cayman Brac or\nLittle Cayman.\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation\n\nc\nRevised as at 31st December, 2025\nPage 15\n\n SCHEDULE\n(regulation 4)\nRequirements for an application for a licence\n1.\nThe name of the bank or trust company (hereinafter referred to as \u201cthe applicant\u201d)\nin respect of which the licence is sought.\n2.\nEvidence of the granting and currency of any approval required under section 11 to\nthe use of any word in the title or description of the applicant.\n3.\nIf not within the Islands, the address of the principal office of the applicant and of its\nregistered office if it is different.\n4.\nThe names and addresses of the two individuals or the body authorised under section\n6(2) to be the agents in the Islands of the applicant.\n5.\nIf the applicant is a company to which Part 9 of the Companies Act (2026 Revision)\napplies, the names and addresses of some one or more persons authorised under\nparagraph (c) of section 206(2) of that Act to accept service on its behalf of process\nor notices.\n6.\nIf the applicant is a company, evidence of its incorporation in the Islands, or outside\nthem, as the case may be.\n7.\nA copy of the memorandum and articles of association, act, statute, charter,\npartnership agreement or other instrument constituting and defining the constitution\nof the applicant verified by a statutory declaration made by one of its directors,\npartners or its secretary and \u2014\n(a)\nin the case of an applicant which is a company incorporated in the Islands,\ncertified under section 27 of the Companies Act (2026 Revision); and\n(b) in the case of an applicant which is incorporated under any law other than\nthe law of the Islands, certified and authenticated under the public seal of\nthe country, city or place under the law of which it is incorporated and, if\nsuch instrument is not written in the English language, a certified English\ntranslation thereof.\n8.\nWhere appropriate, a statement in writing in a form acceptable to the Inspector from\nthe authority responsible for the administration of the laws relating to banking or trust\nbusinesses, as the case may be, and the supervision of such businesses, in the country\nin which the applicant or its parent company is incorporated that such authority is\naware of the application.\n9.\nIf the applicant is a company incorporated in the Islands \u2014\n\nRegulation\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 16\nRevised as at 31st December, 2025\nc\n\n(a)\nthe full name, address and nationality of each shareholder who holds more\nthan ten per cent of the applicant\u2019s issued share capital or total voting\nrights;\n(b) the annual accounts, for the two years immediately preceding the year of\napplication, of each shareholder which is a body corporate holding more\nthan ten per cent of the applicant\u2019s issued share capital or total voting\nrights, together with similar accounts for the parent body, if any, of each\nsuch body corporate;\n(c)\nnot less than three references acceptable to the Authority, including one\ncharacter reference for, and one reference verifying the good financial\nstanding of \u2014\n(i)\neach director, manager and officer of the applicant; and\n(ii) each shareholder and each beneficial shareholder who is a natural\nperson holding more than ten per cent of the applicant\u2019s issued share\ncapital or total voting rights,\nand, for each such director, manager, officer or shareholder, a police or\nother certificate satisfactory to the Authority that such director, manager,\nofficer or shareholder has not been convicted of a serious crime or any\noffence involving dishonesty;\n(d) the full names, addresses and nationalities of all directors, managers and\nofficers of the applicant;\n(e)\na questionnaire approved by the Authority and completed by all the\ndirectors, managers and officers of the applicant;\n(f)\na questionnaire approved by the Authority and completed by each\nshareholder or beneficial shareholder who is a natural person holding more\nthan ten per cent of the applicant\u2019s issued share capital or total voting\nrights;\n(g) evidence acceptable to the Authority of the availability to the applicant at\nall times of adequate professional knowledge and experience in the\nbanking or trust business, as the case may be, and the names of at least two\nof its directors actively engaged in the business of the applicant, one of\nwhom shall possess a sound professional knowledge of, and experience in,\nthe banking or trust business, as the case may be;\n(h) the names and addresses of the registered offices of all subsidiary\ncompanies of the applicant together with a statement as to how much of\nthe capital of each such company constitutes an asset of the applicant;\n(i)\nthe name and address of the firm of auditors practising in the Islands and\napproved by the Authority appointed to audit the accounts of the applicant;\n(j)\na statement giving the date for the drawing up of the annual accounts of\nthe applicant;\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation\n\nc\nRevised as at 31st December, 2025\nPage 17\n\n(k) details of the current business activities, if any, of the applicant and its\nproposed activities if the licence applied for is granted including \u2014\n(i)\nits business aims;\n(ii) a detailed statement setting out its proposed initial assets and its\nproposed assets and expected liabilities at the end of each of the two\nyears next succeeding the date of such grant together with an estimate\nof expected income;\n(iii) particulars of its management structure and personnel;\n(iv) a statement as to its customer base, including, in the case of an\napplication for a Restricted licence, the names and addresses of its\ncustomers; and\n(v) a copy of its most recent balance sheet and details of its fee earnings,\nif any; and\n(l)\nrequests for any exemption from the requirements of the Banks and Trust\nCompanies Act (2025 Revision) sought by the applicant.\n10. If the applicant is a company incorporated outside the Islands \u2014\n(a)\na list certified by its secretary containing the names, addresses and\nnationalities of its directors and corporate officers;\n(b) a questionnaire approved by the Authority and completed by all the\ndirectors, managers and officers of the applicant;\n(c)\na questionnaire approved by the Authority and completed by each\nshareholder or beneficial shareholder who is a natural person holding more\nthan ten per cent of the applicant\u2019s issued share capital or total voting\nrights;\n(d) a chart showing the relationship to its subsidiaries and affiliates and any\nholding company;\n(e)\nthe name and address of its auditor;\n(f)\na statement giving the date for the drawing up of its annual accounts;\n(g) a copy of its latest annual accounts and those of its holding company, if\nany;\n(h) a letter, or letters, addressed to the Governor under the hand of its presiding\nofficer containing \u2014\n(i)\na statement describing in outline the history of the applicant and its\npresent business activities;\n(ii) a brief description of each of its subsidiaries and affiliates;\n(iii) the reasons for wishing to obtain the licence sought and its business\naims for the applicant;\n\nRegulation\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 18\nRevised as at 31st December, 2025\nc\n\n(iv) evidence acceptable to the Authority of the professional knowledge\nof and experience in banking or trust business, as the case may be, of\nthe directors and managers;\n(v) confirmation in writing under the hand of the presiding officer of the\napplicant and the presiding officer of its parent body, if any, that they\nconcur in the making of the application; and\n(vi) requests for any exemption from the requirements of the Banks and\nTrust Companies Act (2025 Revision) sought by the applicant;\n(i)\nthe annual accounts, for the two years immediately preceding the year of\napplication, of each shareholder which is a body corporate holding more\nthan ten per cent of the applicant\u2019s issued share capital or total voting\nrights, together with similar accounts for the parent body, if any, of each\nsuch body corporate;\n(j)\nnot less than three references acceptable to the Authority, including one\ncharacter reference for, and one reference verifying the good financial\nstanding of \u2014\n(i)\neach director, manager and officer of the applicant; and\n(ii) each shareholder and each beneficial shareholder who is a natural\nperson holding more than ten per cent of the applicant\u2019s issued share\ncapital or total voting rights;\nand, for each such director, manager, officer or shareholder, a police or\nother certificate satisfactory to the Authority that such director, manager,\nofficer or shareholder has not been convicted of a serious crime or any\noffence involving dishonesty; and\n(k) a statement in writing in a form acceptable to the Authority accepting legal\nresponsibility for the obligations and liabilities of the applicant executed\nby and binding on the parent company, if any, of the applicant.\n11. Each application for a Restricted \u201cB\u201d licence shall be accompanied by an undertaking\nin a form acceptable to the Authority that the applicant shall not receive or solicit by\nway of trade or business from persons other than those whose names and addresses\nare listed in the undertaking as required by paragraph (d) of section 6(5).\n12. Each application for a Restricted Trust licence shall be accompanied by an\nundertaking in a form acceptable to the Authority that the applicant shall not\nundertake trust business for persons other than those whose names and addresses are\nlisted in the undertaking as required by paragraph (e) of section 6(5).\n13. Each applicant for an \u201cA\u201d, a \u201cB\u201d or a Trust licence shall furnish evidence acceptable\nto the Authority that it has a fully paid-up capital of not less than four hundred\nthousand dollars or its equivalent in other currencies, or such greater sum as may be\ndetermined by the Governor.\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation\n\nc\nRevised as at 31st December, 2025\nPage 19\n\n14. Each applicant for a Restricted \u201cB\u201d or a Restricted Trust licence shall furnish\nevidence acceptable to the Authority that it has a fully paid-up capital of not less than\ntwenty thousand dollars or its equivalent in other currencies, or such greater sum as\nmay be determined by the Governor.\n15. Each applicant for a Nominee (Trust) licence shall furnish a guarantee in a form\napproved by the Authority from the licensee of which the applicant is the whollyowned subsidiary, guaranteeing to meet the liabilities of the applicant up to the sum\nof two hundred thousand dollars. Such guarantee shall, among other things, expressly\nprovide that its formal validity, effect and interpretation, and the rights and liabilities\nof the parties thereto, are governed exclusively by the law of the Islands and that the\nCourts (including the Court of Appeal) of the Islands shall have exclusive jurisdiction\nin respect of all or any of those matters.\n16. The relevant application fee set out below \u2014\n(a)  ten thousand dollars for an \u201cA\u201d licence alone;\n(b)  four thousand dollars for a \u201cB\u201d licence alone;\n(c)  three thousand, five hundred dollars for a trust licence alone; or\n(d)  three thousand, five hundred dollars for any other single licence under the\nAct.\n\nPublication in consolidated and revised form authorised by the Cabinet this 28th\nday of January, 2026.\nKim Bullings\nClerk of the Cabinet\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nENDNOTES\n\nc\nRevised as at 31st December, 2025\nPage 21\n\nENDNOTES\nTable of Legislation history:\nSL #\nAct\/Law #\nLegislation\nCommencement\nGazette\n66\/2024\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) Regulations, 2024\n1-Jan-2025\nLG47\/2024\/s32\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (2021 Revision)\n12-Jan-2021\nLG4\/2021\/s2\n\n56\/2020\nCitation of Acts of Parliament Act, 2020\n3-Dec-2020\nLG89\/2020\/s1\n81\/2020\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) Regulations, 2020\n22-Jun-2020\nLG46\/2020\/s2\nE1\/2013\nErratum: Banks and Trust Companies (Licence\nApplications and Fees) (Amendment) Regulations (2013\nRevision)\n11-Oct-2013\nGE93\/2013\/p42\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (2013 Revision)\n11-Oct-2013\nGE82\/2013\/s4\n82\/2012\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) Regulations, 2012\n20-Dec-2012\nGE129\/2012\/s1\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (2011 Revision)\n7-Nov-2011\nG23\/2011\/s1\n38\/2009\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) Regulations, 2009\n1-Jan-2010\nGE72\/2009\/s3\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (2007 Revision)\n9-Jul-2007\nG14\/2007\/s3\n32\/2006\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) (No. 2) Regulations, 2006\n27-Dec-2006\nG26\/2006\/s6\n31\/2006\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) Regulations, 2002\n3-Jan-2002\nGE2\/2002\/s1\n30\/2001\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) (Further Variation of Fees)\nRegulations, 2001\n1-Jun-2001\nGE11\/2001\/s2\n29\/2001\nBanks and Trust Companies (Licence Applications and\nFees) (Amendment) (Applicants\u2019 References) Regulations,\n2001\n30-Apr-2001\nGE8\/2001\/s7\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (1998 Revision)\n16-Feb-1998\nG4\/1998\/s2\n\n4\/1997\nMiscellaneous Provisions (Fees and Duties) (Temporary)\nLaw, 1997 (part)\n22-Apr-1997\nGE4\/1997\n\nBanks and Trust Companies (Licence Applications and\nFees) Regulations (1997 Revision)\n3-Feb-1997\nG3\/1997\/s1\n\nENDNOTES\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 22\nRevised as at 31st December, 2025\nc\n\nSL #\nAct\/Law #\nLegislation\nCommencement\nGazette\n22\/1995\nBanks and Trust Companies (Fees) (Amendment)\nRegulations, 1995\n6-Apr-1995\nGE8\/1995\/s1\n22\/1990\nBanks and Trust Companies (Fees) (Amendment)\nRegulations, 1990\n1-Jan-1991 GE31July\/1990\/s1\n2\/1989\n\nBanks and Trust Companies (Fees) Regulations, 1989\n26-Jun-1989 GE26Jun\/1989\/s1\n\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nENDNOTES\n\nc\nRevised as at 31st December, 2025\nPage 23\n\nENDNOTES\nBanks and Trust Companies (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 24\nRevised as at 31st December, 2025\nc\n\n(Price: $4.80)","akn_extracted_at":"2026-06-22 15:38:06.749881+00","cms_id":"1989-0002","law_type":"subordinate","year":"1989","number":"2","title":"Banks and Trust Companies (Licence Applications and Fees) Regulations","status":"in_force"},"provenance":{"files":[{"file_id":"5708","expr_id":"627","kind":"akn_xml","filename":"1989-0002_2026 Revision.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.akn.xml","content_md5":"06f57307906f66d092adc29f767b0ff2","byte_size":"35827","http_last_modified":null,"fetched_at":"2026-06-22 15:38:06.931389+00"},{"file_id":"1253","expr_id":"627","kind":"pristine_pdf","filename":"1989-0002_2026 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.pdf","content_md5":"8d76442a4c107fb063765f0a2c6c200c","byte_size":"399099","http_last_modified":null,"fetched_at":"2026-06-21 23:09:33.981221+00"},{"file_id":"1254","expr_id":"627","kind":"working_pdf","filename":"1989-0002_2026 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/1989\/1989-0002\/1989-0002_2026 Revision.pdf","content_md5":"8d76442a4c107fb063765f0a2c6c200c","byte_size":"399099","http_last_modified":null,"fetched_at":"2026-06-21 23:09:33.981221+00"}],"paragraph_count":8,"latest_history":null},"quality":{"expr_id":"627","doc_id":"627","quality_state":"needs_review","quality_score":"76","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{truncated_text,other}","repair_actions":"{collapse_duplicate_text,manual_review,reextract_full_text,strip_page_furniture}","finding_severity_counts":"{\"low\": 1, \"medium\": 1}","finding_summary":"Sample shows a likely truncation of Regulation\u202f5 and stray price note; review full text for completeness.","assessed_at":"2026-06-22 15:29:45.45322+00","updated_at":"2026-06-22 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