Companies Management Act (2025 Revision)
Summary
The regulatory framework for persons providing corporate services, including company formation, registered offices, and directorships.
Sources
Companies_Management_Act_(2025_Revision).pdf, Companies_Management_Regulations_(2018_Revision).pdf, Companies_Management_(Amendment)_Regulations, _2024.pdf
Last Updated
2026-04-27
The Companies Management Act (2025 Revision) governs the business of company management in the Cayman Islands. Any person providing corporate services "for profit or reward" from within the Islands must be licensed by cima.
Definition of "Business of Company Management"
This business includes:
- Acting as a company formation agent.
- Providing a registered office or business address.
- Filing statutory forms, resolutions, and notices.
- Acting as a nominee shareholder.
- Acting as a director or officer of a company (or arranging for another person to do so).
- Acting as an authorised custodian.
- Maintaining beneficial ownership registers (as per beneficial-ownership).
Licensing Categories
- Companies Management Licence: Allows for the provision of the full range of corporate services, including directorships and senior officer roles.
- Corporate Services Licence: A more restricted licence for those only wishing to provide formation, registered office, and filing services.
Key Requirements for Licensees
- Fitness and Propriety: Directors and senior officers must be "fit and proper" (assessed on honesty, integrity, and competence).
- Net Worth: Companies Management licensees must maintain a net worth of at least CI$25,000.
- Insurance: Licensees must maintain professional indemnity insurance with a minimum aggregate cover of CI$1,000,000.
- Segregation of Property: Licensees must segregate their own funds from those of their managed companies.
- Audited Accounts: Annual audited accounts must be submitted to cima within six months of the financial year-end.
- CIMA Approval: Any change in directors, senior officers, or shareholders (holding >10%) requires prior approval from cima.
Fees (2024 Update)
Under the 2024 amendment, annual renewal fees are calculated based on the number of companies managed or serviced:
- Per Managed Company: CI$180.
- Per Serviced Company: CI$100.
- Tiered Base Fee: An additional base fee applies depending on the volume of companies (e.g., CI$1,000 for <99 companies, rising to over CI$20,000 for large managers).