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Open a Bank Account in Cayman Islands
$1,250.00
The Cayman Islands are a world-leading offshore financial services jurisdiction due to its political and economic stability, and its broad offer of banking, trust, hedge fund formation and investment, structured finance and securitization, captive insurance, and international business services. According to Moody’s, the country’s banking system is very stable, as it is well placed in terms of development.
We can help you open business and personal accounts with in the Cayman Islands. Accounts are available for both companies and individuals – applying companies can be incorporated in the Cayman Islands or elsewhere. We work with 6 different banks in the Cayman Islands. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs:
- Cayman Islands Bank Option 1 (Business Account)
- Cayman Islands Bank Option 2 (Business Account, Personal Account)
- Cayman Islands Bank Option 3 (Business Account)
- Cayman Islands Bank Option 4 (Business Account)
- Cayman Islands Bank Option 5 (Business Account)
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
Cayman Islands Bank Option 1 (CIBC FirstCaribbean International Bank)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Current/Savings Account (USD, EUR, CAD, CHF, GBP, JPY, AUD) |
| Minimum Initial Deposit | USD 25,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 25,000.00 |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Debit and Credit Cards |
| Other Services | Merchant Services Trade Finance Wealth Management |
Remote opening: no personal visit to the Cayman Islands is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Current/Savings Account (USD, EUR, CAD, CHF, GBP, JPY, AUD) Minimum Initial Deposit USD 25,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 25,000.00 Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Debit and Credit Cards Other Services Merchant Services
Trade Finance
Wealth ManagementRemote opening: no personal visit to the Cayman Islands is required.
Cayman Islands Bank Option 2 (NCB Cayman Limited)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Multi-currency Savings Account (USD, EUR, GBP, CAD, AUD, KYD, more may be available on request) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Wealth Management Loans |
Remote opening: no personal visit to the Cayman Islands is required.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Personal Multi-currency Savings Account (USD, EUR, GBP, CAD, AUD, KYD, more may be available on request) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Wealth Management Loans |
Remote opening: no personal visit to the Cayman Islands is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Multi-currency Savings Account (USD, EUR, GBP, CAD, AUD, KYD, more may be available on request) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Wealth Management
LoansRemote opening: no personal visit to the Cayman Islands is required.
- Personal Account
-
Account Details
Eligibility International Individuals Account type and Currency Personal Multi-currency Savings Account (USD, EUR, GBP, CAD, AUD, KYD, more may be available on request) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Wealth Management
LoansRemote opening: no personal visit to the Cayman Islands is required.
Cayman Islands Bank Option 3 (Cayman National Bank)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Savings Account (USD, EUR, GBP, CAD, JPY, CHF, AUD, SEK, KYD) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Wealth Management |
Remote opening: no personal visit to the Cayman Islands is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Savings Account (USD, EUR, GBP, CAD, JPY, CHF, AUD, SEK, KYD) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Wealth ManagementRemote opening: no personal visit to the Cayman Islands is required.
Cayman Islands Bank Option 4 (Butterfield Bank)
Account Details
| Eligibility | Local Companies |
| Account type and Currency | Corporate Checking/Savings Account (USD, EUR, GBP, CAD, more may be available on request) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Merchant Services Brokerage Accounts |
Remote opening: no personal visit to the Cayman Islands is required.
- Business Account
-
Account Details
Eligibility Local Companies Account type and Currency Corporate Checking/Savings Account (USD, EUR, GBP, CAD, more may be available on request) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Merchant Services
Brokerage AccountsRemote opening: no personal visit to the Cayman Islands is required.
Cayman Islands Bank Option 5 (Royal Bank of Canada)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Checking/Savings Account (USD, EUR, GBP, CAD, KYD, more may be available on request) |
| Minimum Initial Deposit | USD 500,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 500,000.00 |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Debit Cards |
| Other Services | Term Deposits Merchant Services |
Remote opening: no personal visit to the Cayman Islands is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Checking/Savings Account (USD, EUR, GBP, CAD, KYD, more may be available on request) Minimum Initial Deposit USD 500,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 500,000.00 Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Debit Cards Other Services Term Deposits
Merchant ServicesRemote opening: no personal visit to the Cayman Islands is required.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is guaranteed if the account is not successfully opened, but a 15% administrative fee applies.