Management Companies

Companies providing services for profit or reward must be licensed under the Companies Management Law (“the Law”). Such companies are licensed and regulated by the Cayman Islands Monetary Authority (“the Authority”). The Law sets conditions for the operation of such companies, requires the submission of audited accounts and empowers the Authority to examine licenses, books and records. The Authority has power to revoke a license if a management company ceases business, goes into liquidation, or if the Authority is of the opinion that the management company’s operations are detrimental to the public interest.

Companies licensed under the Law must carry insurance at a level prescribed by the Law or through the Regulations by the Governor in Cabinet to cover any losses arising from claims in respect of civil liability incurred in connection with the business of company management.

The Cayman Islands Company Managers Association was formed in 1996 to promote and maintain a high standard of ethics, conduct, skill and efficiency among its members.

Last Updated: 2011-12-29