On 12 December 2024, the Cayman Islands Monetary Authority (CIMA) announced updates to the registration process for Virtual Asset Service Providers (VASPs) via its REEFS portal. Starting 13 December 2024, the current application form (APP 101-84) is replaced by a new version, designed to enhance the efficiency and clarity of the registration process.
The updated form includes additional questions and refined document requirements, ensuring submissions are more complete and easier to process.
Here's what you need to know:
New submissions: From 13 December 2024, all new VASP registration applications must use APP 101-84-05.
In-progress applications: Applications already in progress on this date may still use the current APP 101-84 form, provided they are submitted before 5pm on 30 January 2025.
Post-deadline submissions: Any incomplete applications after the 30 January deadline will require resubmission using the updated APP 101-84-05 form.
A detailed completion guide for the updated form is available on CIMA's website.
For more information CIMA's notice can be found here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
