Under the Fourth Schedule of the Securities Investment Business Law (SIBL) in the Cayman Islands persons and entities meeting certain criteria can be identified as “Excluded Persons” and excluded from the management of SIBL upon the conclusion of the relevant application form, the making of an annual report and payment of an annual fee to the Cayman Islands Monetary Authority.
One of the rules for exclusion is that the investment company is presented solely to, amongst other things, high net worth or sophisticated persons as specified in the Law. This exclusion can be utilized to many Investment Managers and Advisors.
Time frame: around 6 months
Minimum paid-up capital: 93,000 pound
The company incorporated in the Cayman Islands that requires to conduct brokerage firm is obligated to hold a license allowed by Cayman Islands Monetary Authority (CIMA). Financing projects are organized by the Securities Investment Business Law (SIBL) (latest amendment of 2015).
Cayman Islands Securities Investment license enables to:
- Receive and transmit funds
- Execute commands on behalf of the clients
- Support financial instruments
- Securities management
Among other advantages, the candidate will be ready to experience the following advantages:
- The Cayman Islands are one of the significant financial centers
- No local proximity required
- A bank account can be held in any bank.
- No local income, corporation, capital gains, profits or withholding taxes for Cayman exempted organizations
- High level of asset protection