Eternity Law International — News — The Most Reliable Banks in the Cayman Islands With Offshore Banking License

The Most Reliable Banks in the Cayman Islands With Offshore Banking License

Published:
October 26, 2021

There are 111 banking institutions with offshore banking license operating within the Cayman Islands. Most of them are subsidiaries (31) and branches opened by international banks. The Cayman Islands considered one of the most trusted international centers for financial activities. Deposits in excess of one trillion dollars made through banks registered and operating in the Cayman Islands. If you want to start banking and cannot choose a jurisdiction, then a ready-made banking license in the Cayman Islands is the best and most favorable option for you. The specialists of Eternity Law will help you understand all the intricacies and nuances of buying a license and will accompany you at all stages of the transaction.

The banking system of this jurisdiction demonstrates remarkable stability, even in the conditions associated with the pandemic. The ability of the state to withstand all kinds of economic shocks is determined by the very high income per capita. In addition, it is facilitated by the organization of strong economic and political institutions.

In accordance with the provisions of the Trust and Banking Act, the Islands Monetary Authority is allowed to issue some of the following licenses.

  • Category A. This type of authorization grants a banking institution the right to operate in the domestic and international markets, offering its services to consumers with or without a Cayman Islands residency.
  • Category B. Possession of this license allows the bank to enter into commercial relations only with non-residents of the islands and operate exclusively in the domestic banking market, cooperating with other licensed companies.
  • The Cayman Islands Fiduciary Banking License. This permission gives the bank the opportunity to remain in the status of a trustee, manager or administrator.
  • Category B with certain restrictions.
  • A license that has trust restrictions.
  • Trustor nominal.

According to data obtained in March 2021, 10 A-category licenses were issued in the Cayman jurisdiction. Banks with this type of authorization are granted the right to serve local consumers and offer a variety of corporate, retail and private solutions. 101 banking institutions have a B-type license – they can provide offshore services to legal and physical clients.

Below there is a list of the most reliable banks operating in the Cayman Islands. If you considering using the banking services of this jurisdiction or want to start a career in the banking sector, then this list will be useful to you.

The best banks in the Cayman Islands with an offshore banking license

National Bank of the Cayman Islands

Cayman National Bank created in 1974. This institution provides a complete list of domestic and international financial services, including internet banking, investments, trust services, company formation, administration, fund management, and professional banking. It is a subsidiary of Republic Bank Trinidad and Tobago (Barbados) Limited.

It has a Category A license.

Alexandria Bancorp Ltd

The company established in 1990, it is one of the category B banks on the islands. The institution can be engaged in the provision of banking and trust services to foreigners. It provides private banking, capital management, trust and corporate services. It is a wholly-owned subsidiary of Guardian Capital Group based in Toronto, Canada.

Alhambra Bank & Trust Ltd

Created in 2014. The institution provides and serves wealthy clients outside the United States with deposits of at least $ 1 million. It offers banking and investment services to users in several jurisdictions.

The institution has a B-category license.

Trident Trust Company Ltd

It is one of the best independent corporate, fiduciary and fund managers, with approximately 800 employees worldwide, including Africa, America, Asia, the Caribbean, Europe and the Middle East. This banking institution is engaged in the provision of corporate, trust and fund services in the field of finance in all countries. It offers services that relate to corporate education and administration, the establishment and maintenance of private trust companies for families, and the management of funds.

The firm is a Category B licensed firm. The firm serves other banks and brokerage firms, legal and accounting structures, as well as influencers and their families.

Cainvest Bank and Trust Ltd

The institution created in 1994 after it acquired the rights to banking operations of the broker Intertrust Bank (Cayman) Limited. The company engaged in the provision of private platform services and investments, and also offers services to wealthy individuals and institutional users. The bank is located in Georgetown with branches in Argentina, Brazil and Uruguay.

The firm is licensed under Category A. In 2015, the institution changed its name to Cainvest Bank and Trust Ltd.

Fidelity Bank (Cayman) Ltd

The company offers a wide range of financial services, in particular, insurance and general banking at the domestic and international levels, and other banking products.

The institution founded in 1980 and currently has an A-license.

Merrill Lynch Bank and Trust Company (Cayman) Ltd

The company operates in the area of ​​trust and banking for clients of affiliated persons, in particular high net worth individuals, corporations and other financial institutions. Among the services of the bank: lending, placement of interbank funds, acceptance of deposits from private clients, various operations related to foreign currencies.

The enterprise has an A-license.

Queensgate Bank and Trust Company Ltd

This company registered in 1990. This is a member of the Ugland Group. The focus of this group is the ownership and management of ships. The company also works with investment funds and offers trust services.

The institution has a B-category permit.

Sackville Bank and Trust Company Ltd

The Enterprise is a private, independent banking institution offering fiduciary services to corporate and trust institutions. In addition, the bank provides solutions for the strategic management of investment funds and custody services.

The company has an official B-category license.

Eternity Law specialists will help you cope with any difficulties that you may encounter in the process of cooperation with the banks of the Cayman Islands. In order for such cooperation to be as successful as possible, we are ready to provide you with comprehensive advice on all issues and full support at each stage of the procedure. Contact us!

Bank in Cayman Islands for sale

If you wish to find out more details about the banks for sale you can see the list of available banks with an offshore banking license in the category licenses for sale.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale”.

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