Regulatory Round-Up

The Cayman Islands Monetary Authority (CIMA) has launched a One-time Non-Compliant Directors’ Amnesty Scheme (“the Scheme”). The Scheme, which will run from 16 September to 15 October 2025, is a limited opportunity for eligible directors registered under the Directors Registration and Licensing Act (As Revised) to voluntarily settle outstanding annual fees and accrued penalties at a discounted rate. Read more →

On 29 August 2025, the Cayman Islands Department for International Tax Cooperation (DITC) announced that Country-by-Country Reporting (CbCR) is now live on its DITC portal. Multinational Enterprise Groups (MNE Groups) with Cayman Islands constituent entities must re-register on the new portal following the decommissioning of the legacy CbCR portal in July. Read more →

Foreign exchange (“Forex”) companies incorporated in the British Virgin islands (“BVI”) are now required to register under the Securities and Investment Business Act (As Revised) (“SIBA”). Read more →

On 12 August 2025, the Cayman Islands Government (CIG) announced the establishment of the Office for Strategic Action on Illicit Finance (OSAIF), a centralised authority that reinforces the jurisdiction’s alignment with international standards—particularly those of the Financial Action Task Force (FATF). OSAIF will be housed within the Ministry of Financial Services and Commerce (the “Ministry”). Read more →

Effective 8 July 2025, the current VASP application form, APP 101-84-05, has been amended to streamline the application process for registration, licensing and waivers. The updated form incorporate additional questions and clarifies document requirements for all applicants. Read more →

On 27 June 2025, the Cayman Islands Government passed the Virtual Asset (Service Providers) (Amendment) Act, 2025. The Act addresses the situation of tokenised funds and is a welcome update for the VASP sector. Read more →

CIMA has published updated Regulatory Policies in relation to virtual asset service providers (“VASPs”) and deposit-taking institutions which are effective 23 May 2025. Regulated entities operating in these sectors should ensure that they are familiar with the new requirements and where necessary seek advice to ensure they are compliant with all aspects of the Regulatory Policies. Read more →

On 23 May 2025, CIMA released its Private Sector Consultation Paper on a newly proposed Rule and Statement of Guidance on Market Conduct (the “RSOG”) for Virtual Asset Services Providers (the “Consultation”). The newly proposed measure builds on CIMA’s earlier Statement of Principles – Conduct for VASPs as well as recent amendments to the Virtual Asset (Service Providers) Act (As Revised) (the “VASP Act”). Read more →