Private Trust Companies Regulations (2020 Revision)
Summary
Regulations allowing for the registration of Private Trust Companies (PTCs) that provide trust services to a defined group of connected persons without requiring a full trust licence.
Sources
Private_Trust_Companies_Regulations_(2020_Revision).pdf
Last Updated
2026-04-27
Private Trust Companies (PTCs) are a popular vehicle in the Cayman Islands for family offices and high-net-worth individuals to manage their own trust structures while maintaining control and privacy.
Key Features
- Exemption from Licensing: PTCs are exempt from the full licensing requirements of the Banks and Trust Companies Act, provided they only conduct "connected trust business."
- Connected Trust Business: Trust business where the contributors to the trust funds are all "connected persons" in relation to each other.
- Registered Office: A PTC must maintain its registered office at the office of a company that holds a full Trust licence.
Registration and Fees
To qualify for the exemption, a PTC must register with cima:
- Initial Registration Fee: US$3,500.
- Annual Registration Fee: US$3,500 (due on or before January 31st).
- Annual Declaration: The PTC must file an annual declaration confirming compliance and listing its directors and shareholders.
Connected Persons Definition
The regulations provide a broad definition of "connected persons" (see Schedule), including:
- Spouse.
- Descendants (including step-children and adopted children) and their spouses.
- Parents, grandparents, and parents-in-law.
- Siblings and their spouses/children.
Governance
- Directors: A PTC must have at least one director who is a natural person.
- Record Keeping: The PTC must keep copies of trust deeds, names/addresses of trustees, settlors, protectors, and enforcers, as well as financial records, at its registered office for inspection by cima.