Director Registration And Licensing In The Cayman Islands

This memorandum has been prepared for the assistance of anyone, whether resident in the Cayman Islands or not, who is considering acting as a director of a company that is or will be a covered entity (as defined in the Directors Registration and Licensing Law, 2014 (the Law).  It is intended to provide a summary of the Law and details of how to apply for registration or licensing under the Law and is not to be taken as specific legal advice applicable to any particular issues or circumstances.

1 Registration and Licensing Framework

1.1 Covered entities

The Law applies to directors of a covered entity, which is defined as:

• a company to which paragraphs 1 and 4 of Schedule 4 of the Securities Investment Business Law (Revised) (SIB Law) apply; or