This publication has been prepared for the assistance of those who are considering the formation of banks and trust companies in the Cayman Islands (“Cayman” or “the Islands”). It deals in broad terms with the requirements of Cayman law for the establishment and operation of such entities. It is not intended to be exhaustive but merely to provide an outline of the rules by which banks and trust companies are licensed and regulated in Cayman for which we hope will be of use to the clients of Conyers.
Before proceeding with the incorporation of a bank or trust company in Cayman, clients are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.
We also recommend that our clients seek legal advice in Cayman on their specific proposals before taking steps to implement them.