Company Manager Licence – This authorizes the holder to provide corporate services as listed in section 3(1) or any other corporate services as may be prescribed under that section.
A company manager is any entity that carries out the “business of company management.” The “business of company management” is defined in the Company’s Management Law (2003 Revision) as “the provision of managerial services for profit or reward in or from within the islands, whereby a person is a director for or a shareholder of a company or when the control over the whole or substantial assets of the company is vested in the management company.” Applications should follow the requirements set out in the Companies Management Regulations (2003 Revision) and the Companies Management (Amendment) Regulations, 2012. Based on these regulations the Fiduciary Division has created the following checklists to assist applicants.
Cayman Company Manger License Key Features
- Must inform the CIMA of any change in the registered office or principal office;
- Must have their accounts audited annually by an auditor approved by the CIMA and submit a copy of the audited accounts to the CIMA:
- within three months of the trust company’s financial year-end; or
- within six months of the company manager’s financial year-end;
- Must pay the annual fee by the 15th of January of each year. If an annual fee is not paid by that date, a penalty of one-twelfth of the annual fee will be payable for each month or part of a month during which the annual fee and any penalty remains unpaid;
- Must receive the approval of CIMA prior to issuing or transferring shares and prior to appointing a director or controller; and
- Must inform CIMA of changes in auditor, or change of name
Why US (Key Strengths)
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with the regulator and service providers and updating you regularly.
- Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers