Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right CIMA path and leads the file all the way to the compliant launch, including banking and payment rails.
Get a crypto license in the Cayman Islands.
Cayman built its regime in two stages - CIMA registration since 2020, and since 1 April 2025 a full licence for virtual-asset custody and trading platforms, with client-asset segregation and prudential rules. It sits on a 0% tax base and one of the most recognised regulators in offshore finance. We map you to the right path and build it end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Cayman in brief
Two paths - registration, and now a real licence.
Cayman regulates virtual-asset business under the Virtual Asset (Service Providers) Act, supervised by CIMA. It arrived in two phases. Registration came first, in 2020, for firms carrying on virtual-asset services. Then, on 1 April 2025, the long-planned Phase 2 switched on a full licensing regime for the two heaviest activities - virtual-asset custody and operating a trading platform. Firms already registered and doing those had to apply for a licence within ninety days or lose their registration, so this is a genuine step up, not a formality.
Which path you take depends on what you actually do. Lighter virtual-asset services register with CIMA; custody and trading platforms now need a licence, with prudential requirements, client-asset segregation, insurance and grievance disclosures, and closer supervision. What you build in either case is a Cayman exempted company or LLC, the right CIMA submission through the REEFS portal, a business plan and risk assessments the Authority reads closely, and an AML programme - all on a jurisdiction that charges 0% corporate tax and carries a regulator institutions already trust. We map the path first, then build it.
Two paths: CIMA registration since 2020, and since 1 April 2025 a full licence for custody and trading platforms.
You build a Cayman exempted company or LLC, the right CIMA submission and an AML programme - on a 0% tax base.
Registration or licence
The path follows the activity.
Cayman is not one-size-fits-all. General virtual-asset services register; custody and trading platforms are licensed under the Phase 2 regime in force since 1 April 2025. We size the submission to what the business genuinely does.
Registration for light services; licence for custody and trading platforms since April 2025.
01 - REGISTRATION
General VASP registration
For virtual-asset services outside custody and trading platforms - issuance, transfer and related activity. The lighter CIMA path, but with fit-and-proper and AML checks that are real.
For virtual-asset services outside custody and trading platforms - issuance, transfer and related activity. The lighter CIMA path, but with fit-and-proper and AML checks that are real.
- ✓CIMA registration through REEFS
- ✓Fit-and-proper people and owners
- ✓AML programme and reporting officers
02 - LICENCE · TRADING PLATFORM
Licence since 1 April 2025Operating a trading platform
Running a venue where clients trade virtual assets now requires a CIMA licence - with prudential rules, client-asset segregation and disclosure of safeguards and insurance.
Licensed activities add segregation, prudential rules and insurance disclosure. CIMA and government fees apply.
- ✓Full CIMA licence, not registration
- ✓Client assets segregated from proprietary
- ✓Prudential and disclosure requirements
03 - LICENCE · CUSTODY
Licence since 1 April 2025Virtual-asset custody
Holding clients' virtual assets or the means of access to them is now a licensed activity - the same enhanced regime as trading platforms, built around safekeeping and segregation.
Holding clients' virtual assets or the means of access to them is now a licensed activity - the same enhanced regime as trading platforms, built around safekeeping and segregation.
- ✓Full CIMA licence for custody
- ✓Safekeeping, key management, segregation
- ✓Insurance and grievance disclosures
CIMA registration and licence fees, and annual fees, apply and are confirmed for your case before any work begins. The Authority assesses financial resources against your business plan; the licensed activities carry additional prudential requirements.
Why Cayman
A trusted regulator on a 0% base.
The Cayman name carries weight with banks, funds and counterparties - and the tax base underneath is a genuine zero.
✓
0% corporate tax
Cayman levies no corporate income tax, no capital gains and no withholding. The activity runs untaxed at the Cayman level - only government and CIMA fees apply, laid out up front.No income, gains or withholding tax.
✓
A regulator institutions trust
CIMA supervises one of the world's largest fund centres. A Cayman registration or licence reads to a bank or an institutional counterparty as a serious, recognised regime.CIMA - a top-tier fund centre.
✓
The path fits the model
Light services register; custody and trading platforms are licensed. You carry the weight the activity deserves and no more - proportionate by design.Register light, licence for custody/platform.
✓
The vehicle funds already use
The exempted company and the LLC are the standard Cayman structures behind much of global fund finance. Nothing exotic to explain when you raise or bank.Exempted company / LLC - familiar.
✓
Client-asset segregation as a feature
The licensed regime requires client assets to be segregated from the firm's own. That is a cost, but it is exactly the safeguard that wins institutional trust.Client assets kept separate.
✓
The honest structure wins
CIMA grants on the file - the plan, the people, the risk assessments and the AML. We build all of it to the standard the Authority and correspondent banks read as legitimacy.Granted on the file, built to standard.
How it compares
How Cayman differs from other routes.
Cayman is the institutional-grade, 0% play - a trusted regulator and, since 2025, a real licence for the heavy activities. The honest comparison is below.
Cayman vs other jurisdictions
| Feature |  Cayman | Other jurisdictions |
|---|---|---|
| Model today | Registration + licence (since 2025) | From none to full licensing |
| Corporate tax | 0% | Worldwide, 9-30% |
| Standing | Top-tier fund centre | Varies widely |
| Setup | From ~4-6 months | Weeks to years |
Model today
CaymanRegistration + licence (since 2025)
Other jurisdictionsFrom none to full licensing
Corporate tax
Cayman0%
Other jurisdictionsWorldwide, 9-30%
Standing
CaymanTop-tier fund centre
Other jurisdictionsVaries widely
Setup
CaymanFrom ~4-6 months
Other jurisdictionsWeeks to years
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Cayman | Registration + licence (CIMA) | 0% corporate | Custody/platform licensed, ~4-6 months |
 BVI | VASP registration by category (FSC) | 0% corporate | Authorised representative, ~4-6 months |
 Seychelles | VASP Act - four activities (FSA) | 1.5% local · territorial | Resident director + office, ~6 months |
 El Salvador | DASP registration (CNAD) | 0% on digital-asset gains | Registration, 2-4 months |
CaymanLicense typeRegistration + licence (CIMA)
Taxation0% corporate
RequirementsCustody/platform licensed, ~4-6 months
BVILicense typeVASP registration by category (FSC)
Taxation0% corporate
RequirementsAuthorised representative, ~4-6 months
SeychellesLicense typeVASP Act - four activities (FSA)
Taxation1.5% local · territorial
RequirementsResident director + office, ~6 months
El SalvadorLicense typeDASP registration (CNAD)
Taxation0% on digital-asset gains
RequirementsRegistration, 2-4 months
Doing it properly
What the CIMA submission contains.What the CIMA submission contains.
Whether you register or licence, CIMA reads the file closely - and the licensed activities carry more. The checklist below is what we build and submit through REEFS.
01
Cayman exempted company or LLC - incorporated with clean governance and ownership to the UBOs.
02
The right CIMA path - registration for general services, a licence for custody or a trading platform.
03
A comprehensive business plan, risk assessments and governance structure submitted through the REEFS portal.
04
Fit-and-proper directors, senior officers, shareholders and beneficial owners.
05
An AML/CFT programme to the Cayman regulations, with an AML compliance officer, an MLRO and a deputy MLRO.
06
For licensed activities - client-asset segregation, prudential resources, and disclosure of safeguards, insurance and grievance procedures.
07
Adequate financial resources, assessed by CIMA against the plan.
08
An auditor appointed, with accounts kept to standard.
09
Economic substance addressed where the Economic Substance Act applies.
10
Ongoing reporting and supervision - the file is the start of the relationship, not the end.
01
Cayman exempted company or LLC.
02
Registration or licence, by activity.
03
REEFS submission - plan, risk, governance.
04
Fit-and-proper directors and UBOs.
05
AML programme + AMLCO, MLRO, DMLRO.
06
Client-asset segregation (licensed).
07
Prudential resources (licensed).
08
Adequate financial resources.
09
Auditor appointed.
10
Economic substance where it applies.
Reflects the Virtual Asset (Service Providers) Act (revised) and the Phase 2 licensing regime in force from 1 April 2025, as of 2026.VASPA (revised) + Phase 2 licensing from 1 April 2025, as of 2026.
How it works
From first call to a CIMA registration or licence.
01
Strategy and path
Registration or licence, the honest timeline and the substance plan - fixed in writing before anything incorporates.Registration or licence - in writing.
02
The Cayman company
An exempted company or LLC, incorporated with clean governance and ownership transparent to the UBOs.Exempted company or LLC.
03
The CIMA file
The REEFS submission - business plan, risk assessments, governance, fit-and-proper people and the AML programme.REEFS: plan, risk, people, AML.
04
Segregation and banking
Client-asset segregation and prudential build where licensed; accounts or a payment provider arranged on disclosure.Client-asset split; accounts.
05
Grant and run
CIMA registers or licenses the VASP; ongoing reporting and supervision keep the structure clean.CIMA grants; reporting keeps it clean.
Quick facts
RegulatorCIMA
LawVASPA (revised)
RegistrationSince 2020
LicenceSince 1 April 2025
VehicleExempted company / LLC
Corporate tax0%
Licensed activitiesCustody, trading platforms
SetupFrom ~4-6 months
Phase 2 is a genuine step up - custody and trading platforms are licensed, with segregation and prudential rules. The upside is a recognised regime on a 0% tax base.
On the ground for Cayman
Run from our Dubai desk, filed with CIMA.
Prifinance - Cayman desk
Run from our Dubai office
33 Level, Al Saqr Business Tower, Dubai, UAE
01
Exempted company or LLC
The Cayman vehicle the registration or licence sits on - built clean, owned transparently to the UBOs.The vehicle, built clean.
02
The CIMA path
Registration or licence, chosen for the real activity, with the plan and risk assessments assembled for REEFS.Registration or licence via REEFS.
03
AML and segregation
The AML programme and officers, plus client-asset segregation and prudential build where the activity is licensed.Officers and client-asset split.
04
Banking and rails
Accounts or a licensed payment provider, arranged on full disclosure with a recognised regime behind you.Arranged on full disclosure.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in the Cayman Islands.
Cayman is a true zero on direct tax - the appeal is the absence of tax, paired with a regulator and a vehicle institutions already trust.
Corporate income tax: 0%
Cayman levies no corporate income tax. Profits from the virtual-asset activity are not taxed at the Cayman level - the company runs on fees, not a tax bill.No Cayman income tax.
No capital gains tax
Gains on virtual assets or any other property carry no Cayman capital-gains charge - the territory has no such tax.No capital-gains charge.
No withholding tax
Dividends, interest and royalties paid out carry no Cayman withholding - distribution is not taxed at source.Distributions untaxed at source.
Only government and CIMA fees
The real running cost is the annual company fee and CIMA's registration or licence fees, not tax. We set them out in the plan.Government + CIMA, not tax.
Economic substance where it applies
The Economic Substance Act can reach certain activities - we assess whether it bites on your model and build the substance to meet it.Economic Substance Act.
Home-country tax still matters
Zero at the Cayman level does not switch off tax where owners live and manage. We flag the residence and controlled-company questions so nothing surprises you at home.Owners' residence still counts.
Tax summary
Corporate income tax0%
Capital gains taxNone
Withholding taxNone
Crypto-specific taxNone - general position
Substance basisEconomic Substance Act
Real running costGovernment + CIMA fees
*As of 2026. A 0% Cayman base does not remove home-country tax on owners - we model that alongside the structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the CIMA file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: the Cayman exempted company or LLC, the CIMA registration or licence file through REEFS, the AML/KYC policy set and the client-asset segregation build. His document sets are the reason reviews finish cleanly.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a clean, registered business.
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Cayman · VASPA
Launch your crypto project in the Cayman Islands with expert support.
Full-service setup - the company, the CIMA registration or licence, and the AML file, assembled as one.
Get a consultation →Free legal opinion
Is Cayman the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: registration or licence, which jurisdiction and route fit your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Cayman crypto regime, answered honestly.
Is it a registration or a licence?+
Both, depending on the activity. General virtual-asset services register with CIMA. Since 1 April 2025, custody and trading platforms need a full licence - the Phase 2 regime, with segregation and prudential rules on top.
What changed on 1 April 2025?+
Phase 2 of the Act switched on. Firms providing custody or running a trading platform moved from registration to licensing, and those already registered had ninety days to apply for a licence or lose their registration. It is a real step up in supervision.
Which path do I need?+
If you hold client assets or run a trading venue, you need a licence. Lighter services register. We assess your model against the Act and tell you which - before you spend, not after.
What is client-asset segregation?+
The licensed regime requires client virtual assets to be kept separate from the firm's own, with disclosures on safeguards and insurance. It is a cost, and it is exactly what makes a platform bankable and trusted.
How is it taxed?+
At the Cayman level, not at all - no corporate income tax, no capital gains, no withholding. Zero. But that does not remove tax where owners live and manage, and we model that alongside.
What does it cost?+
CIMA registration or licence fees plus annual fees; there is no single headline capital figure - the Authority assesses financial resources against your plan, and the licensed activities carry prudential requirements. We set the numbers out for your case.
How long does it take?+
Realistically a few months once the file is complete. A REEFS submission with the plan, risk assessments, people and AML in order is what keeps CIMA's review moving rather than stuck in queries.
Cayman, BVI or Seychelles?+
All are offshore and 0% or near it. Cayman carries the strongest institutional standing and, since 2025, a real custody/platform licence; BVI is lighter registration; Seychelles adds a 1.5% concession. Model, banking and standing decide.
Why Cayman with you?+
Because the outcome turns on the CIMA file - the plan, the people, the segregation and the AML. We build Cayman submissions to the standard the Authority and the banks read, which is what makes the registration or licence usable.
Registration or licence?+
Both - licence for custody and platforms.
1 April 2025?+
Phase 2 licensing switched on.
Which path?+
Hold assets or run a venue - licence.
Segregation?+
Client assets kept separate, disclosed.
Tax?+
0% at Cayman level; home tax applies.
Cost?+
CIMA + government fees; resources vs plan.
How long?+
A few months once the file is complete.
Vs BVI / Seychelles?+
Cayman - strongest standing + real licence.
Why with us?+
File built to CIMA and bank standard.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Start today
One message away from your Cayman structure.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: registration or licence, which jurisdiction and route fit your business.Free legal opinion: registration or licence in Cayman, and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on registration vs licence, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Cayman Islands Monetary Authority or the Government of the Cayman Islands. Registrations and licences are granted by, and obtained directly from, the competent authority.