KYC Checklist for Cayman Islands Global Account Setup
Opening a Global Account for a business registered in the Cayman Islands requires completing a Know Your Customer (KYC) verification process. KYC, mandated by regulators, ensures that financial services are provided responsibly by verifying and maintaining information about businesses and connected individuals.
1. Required Documents
To set up a Global Account for a Cayman Islands business, the following documents are required:
Certificate of incorporation
Certified True Copy (CTC) of the Certificate of Incumbency
(If the Certificate of Incumbency is certified, the Certificate of Incorporation does not need to be CTC-ed.)
Supporting Business Documents (if applicable)
ID of UBO (if applicable)
ID of Authorised Person (if applicable)
File Submission Guidelines
Ensure all documents are clear and readable.
File size must not exceed 10MB.
Accepted formats: PDF, Word, JPG, JPEG, PNG, BMP.
2. Business Information
Certificate of Incorporation
Provide a copy of the company’s Certificate of Incorporation.
Sample:
Certified True Copy of Certificate of Incumbency
The Certificate of Incumbency must be certified by an appropriate person. Below is a non-exhaustive list of acceptable certifiers:
An intermediary specified in section 18(3) of Schedule 2 of the Guidance on AML and CFT.
A member of the judiciary in an equivalent jurisdiction.
An officer of an embassy, consulate, or high commission of the country of issue of documentary verification of identity.
A Justice of the Peace.
A professional, such as:
Certified Public Accountant.
Lawyer.
Notary Public.
Chartered Secretary (e.g., a full member of the Institute of Chartered Secretaries and Administrators).
Note: Practicing Hong Kong Company Secretaries are authorised to certify true copies (CTC).
Sample:
Supporting Business Documents (if applicable)
Provide any relevant additional documentation, such as:
Company's memorandum and articles of association which evidence the powers that regulate and bind the company; and
Details of the ownership and structure control of the company, e.g. an ownership chart.
3. Personal Information
Authorised Person
An authorised person is designated to act on behalf of the business.
Ultimate Beneficial Owner (UBO)
Ultimate Beneficial Owner refers to an individual who owns or controls, directly or indirectly, including through a trust or bearer shareholding, more than 25% of the issued share capital of the corporation.
Personal ID
Please provide images for government issued official ID with photo, such as passport, national ID or driver licence (if applicable).
Note: Please keep the ID photo clear, with complete edges, no occlusion, no reflection, no watermark, etc. and, it is recommended to lay the document flat and shoot vertically in a well-lit place.
Some valid ID examples are provided below:
Passport - All Countries
National ID - e.g. Cayman Islands ID Card
Driver's License - e.g. Cayman Islands Driver Licence
Please note if UBO, or Authorised person is a Chinese citizen, only Chinese Resident Identity Card is acceptable, and both front and back side needed.
Chinese Resident Identity Card sample:
ID Submission Guidelines
Ensure the ID photo is clear, with no occlusion, reflection, or watermark.
Place the document flat in a well-lit area and shoot vertically.
4. Individual Address Proof
Address proof is required for both UBO and PPTA. If the UBO or Authorised Person is not a director, provide address proof.
Accepted Proof of Address Documents:
Cayman Island Identity Card containing address.
Bank statement.
Utility bill.
Current lease agreement
Resident Permit.
Written declaration from the ID holder that the address on the Passport/ID is their current residential address
Requirements for Address Proof:
Must be issued within the last 3 months (bank statements and utility bills).
Must clearly display name and address.
Document must not be cropped or blurry.