The information and particulars to be contained in an application for a Mutual Fund Administrators licence under Section 11 of the Mutual Funds Law are contained in the Mutual Fund Administrators Licence (Applications) Regulations. The applications for Mutual Fund Administrators Licences are listed as follows and are available of the Regulatory Enhanced Electronic Forms Submission ("REEFS") portal here:
See Fees to obtain further details relating to the cost of applying for and annual fees pertaining to Mutual Fund Administrators Licences.
Payments may be made via REEFS or a cheque may be made payable to the Cayman Islands Government and remitted to:
The Cayman Islands Monetary Authority
PO Box 10052
80 Shedden Road
Grand Cayman KY1-1001
NOTE: CIMA may require additional information to determine the outcome of the application.
It takes approximately six to eight weeks to obtain a Mutual Fund Adminstrators licence once CIMA receives all required documentation.
The documentation to be submitted for the licensing or registration of a mutual fund is as follows:
For more information on REEFS, see REEFS FAQs.
To access CIMA's online Regulatory Enhanced Electronic Forms Submission portal click here
Additional Documentation Required for Operators of Licensed Funds
In addition to the documentation listed above, CIMA requires that all Operators who wish to be appointed to a fund licensed under Section 4(1)(a) - Licensed Fund - also provide the following documents:
Note: All documents and certificates must be provided in English. For further details relating to the fitness and propriety requirements and for important information relating to reference letters, see the Regulatory Procedure: Assessing Fitness and Propriety.
It takes approximately five business days to register a mutual fund and four to six weeks to licence a fund, once all documentation has been received. For details relating to the timelines for the Investments Supervision Division, refer to the Regulatory Handbook - Appendices.
*Local Auditor sign-off is required for all mutal funds and mutual fund adminstrators regulated by the Authority. For a list of Approved Auditors click on the link below:
The Authority has issued the following policy on the auditor approval process:
Revised Auditor Approval PolicyView
Please note the following for additonal information on guidance for local Auditors: