Obtaining A Mutual Fund Administration Licence In The Cayman Islands

Introduction

This guide sets out the requirements for a Cayman Islands company to apply to the Cayman Islands Monetary Authority (CIMA) for a Mutual Fund Administrator license under the Mutual Funds Law (the MF Law).

Licensing background

The MF Law provides that a person shall not act or carry on business (either in or from Cayman or as a Cayman registered entity conducting mutual funds administration outside Cayman) as a mutual fund administrator unless they have obtained a mutual fund administrators licence (Licence). There are severe penalties ranging from CI$20,000 to CI$100,000 (equivalent to US$24,390 to US$121,951) for carrying on any licensable activity without a licence or breach of any conditions of a Licence.