The Cayman Islands Securities Brokerage License

Since 2003, Healy Consultants Group PLC has been assisting our Clients with registering securities brokerage companies across the globe. Many of our Clients prefer to register their securities brokerage business is in the Cayman Islands as i) the country is one of the major global financial hubs and ii) no local directors or staff are required to secure the license.

What is the Cayman Islands Securities Brokerage License?

The license is granted by the Cayman Islands Monetary Authority (CIMA). Licensing applications are processed by CIMA within 3 months;

After the license application has been approved, your Cayman Islands entity will legally be able to start trading in financial services including i) accepting and transmitting funds ii) executing orders on behalf of customers and iii) underwriting financial instruments and iv) conducting securities management;

What are the main requirements?

In order to apply for the brokerage license, your Firm is required to:

  • Appoint a qualified director: All directors and UBOs to have at least 4 years’ experience in the financial sector substantiated with legalized educational certificate, CV and 2 professional references and criminal records. Most of our Clients appoint their own staff to the position. If required, Healy Consultants Group PLC can source quality qualified director solutions for a onetime fee of US$4,950;
  • Have a minimum paid-up capital of US$125,000 (KYD100,000): Capital injection has to be carried out before the license application.

Steps to take for license application

Application steps

  1. Securing qualified director solution: If required, Healy Consultants Group PLC will supply a qualified professional nominee director who has at least 4 years’ financial sector experience with educational certificate, CV and 2 professional references and criminal records;
  2. Preparation of documents: Healy Consultants Group PLC will assist our Client in preparing i) detailed business plan and company organization chart ii) group organization chart and information on the entity beneficial ownership and iii) employment contracts of all directors;
  3. AML/CFT programme: Healy Consultants Group PLC will prepare a detailed AML/CFT programme including i) reviewing the AML/CFT regulations of Cayman Islands ii) liaising with our Client to understand their business model and specific KYC risks iii) supply a MS Word AML/CFT program including a) AML/CFT policy and procedure b) Risk Disclosure policy c) general terms and conditions and d) privacy policy for our Client’s review and iv) amending the document as per our Client’s request;
  4. Capital injection: Before Healy Consultants Group PLC can submit the licensing application to CIMA, your Firm will be required to inject a paid-up capital of at least US$125,000 (KYD100,000) to the international corporate bank account of the entity;
  5. Submission of license application: All going well, Healy Consultants Group PLC will prepare and submit the license application to the CIMA;
  6. Tax exemption certificate application: In accordance with the Cayman Island Tax Concession Law, a company can ensure 20 years of tax exemption by obtaining a tax exemption certificate by the Cayman Islands Tax Information Authority (TIA). Healy Consultants Group PLC will assist you to secure this application.

Our service packages

Healy Consultants Group PLC will project-manage your securities brokerage business set up from the start to the end. Our standard package of services includes i) company registration ii) company secretary and registered address services iii) opening international multicurrency corporate bank account iv) sourcing qualified resident director v) preparation of AML/CFT programmes and other required documents vi) securing a brokerage license with CIMA and vii) securing tax exemption certificate;

Additionally, our Firm can also offer multiple additional support services, including i) accounting and bookkeeping services ii) merchant account opening services iii) drafting of prospectus if your Firm is planning to issue structured products and vi) assistance to recruit employees.

Contact us

For additional information on our company registration services in Cayman Islands, please contact our in-house country expert, Mr. Vladislavs Grekis, MICA, directly:
Consultant at HC - Vladislavs
  • Mr. Vladislavs Grekis, MICA
  • Client Engagements Manager
  • Contact me!
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