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• 18 May 2023

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In Cayman in accordance with the The Banks and Trust Companies Act, the following categories of trust licences / registrations may be issued:

• Trust Licence - This authorises the holder to carry on trust business
• Trust Licence (Restricted)  - This authorises the holder to undertake trust business only for persons listed in any undertaking accompanying the application for the licence.
• Nominee (Trust) Licence - This authorises the holder to act solely as the nominee of a trust licensee, being the wholly owned subsidiary of that licensee.
• Registration of a Controlled Subsidiary - This authorises the registrant to provide, without a licence, trust services including the issuing of debt instruments or any other trust business connected with the trust business of its parent that holds a trust licence.
• Registration of a Private Trust Company - This authorises the registrant to provide trust services to “connected persons”. “Connected persons” is defined in section 2(2) of the Private Trust Companies Regulations.

As defined in section 2 of the Banks and Trust Companies Act, “trust business” means the business of acting as trustee, executor or administrator.

We are applying for the highest category - the Trust Licence.

RA

Rachel Amos

18 May 2023

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