For all FAQs relating to Currency, visit here

Yes. CIMA’s Currency Division is responsible for issuing and redeeming Cayman Islands currency.

For all FAQs relating to Securities, visit  here.

For all FAQs relating to Investment Funds, visit here.

For all FAQs relating to Insurance, visit here.

For all FAQs relating to Corporate Services, visit here.

For all FAQs relating to Trusts, visit here.

For all FAQs relating to Cooperative and Building Societies , visit here

For all FAQs relating to Money Services Business, visit here

For all FAQs relating to Banking Services, visit here

Foreclosure is a legal process that creditors use to satisfy your financial obligations to them. Not paying a debt, like a mortgage or second mortgage, can trigger a foreclosure.

Yes. Technically, after missing one mortgage payment, you have breached your agreement with the bank. While, most banks do not usually start foreclosure proceedings after only one missed payment, you should be aware that you will incur added costs that could make it hard to catch up and can spiral out of control.

Your bank can help you understand the specific options available to you, which could include a short-term solution to help you get back on your feet or a long-term solution to modify the terms of your mortgage. You may also wish to consult with a credit counsellor to help identify and consider all viable options.

Depending on the market you may be able to sell your home for a price that allows you to pay your debt in full.  In a “short sale” scenario you may be liable for any shortfall and may need to negotiate with your bank to get a new loan to cover this liability.

Yes, if the property is sold for more than what you owe the bank.

Your bank will likely require you to pay the difference between what your foreclosed home sold for and what you owe on it. This amount is sometimes referred to as a “deficiency”. That's why it's important to begin working with your bank before the property reaches foreclosure. By doing so, you may have other options available to you, which may be able to help you avoid foreclosure and resolve/settle your mortgage delinquency.

The Registered Land Law (2004 Revision), specifically Division 3, deals exclusively with legal charges.

CIMA regulates all banks licensed in the Cayman Islands to ensure compliance with the regulatory laws and requirements, safeguarding the interest of all stakeholders. CIMA monitors the foreclosure process of all banks to ensure that the processes are in line with industry best practice. However, CIMA cannot, under normal circumstances, stop a residential property from being foreclosed if the bank has adhered to appropriate foreclosure processes. CIMA again advises individuals to understand the foreclosure process and the take heed of the steps identified within the Public Advisory.

The Cayman Islands Monetary Authority ("CIMA") does not permit any use of its logo on third party websites, publications or any editorial/advertisment material without written consent from CIMA.

Subject to the following terms and conditions, CIMA licensees/registrants, or other interested persons may use or refer to information posted on CIMA's website via a weblink only. 

1. CIMA’s web link will be used for information purposes.
2. Any text, wording or other formulation of CIMA's information will not be altered in any way. If any information is reproduced, it must not be misrepresented to the public in so far as any facts or legal matters are concerned. Additionally, details should clearly direct the reader’s attention to CIMA's website for clarification and further details regarding such information.
3. CIMA will at all times retain the intellectual property in in the information of our website and that any third party, on its website, conspicuously acknowledge CIMA as the owner of the copyright of such information.
4. CIMA reserves the right to view the information reproduced from or linked to its website in order to monitor compliance with the terms, conditions and undertakings.
5. CIMA will be entitled to conduct its own periodic assessment or review of the use of information taken from its website to determine whether or not it is consistent with CIMA’s overall obligations under the law.
6. CIMA reserves the right to unilaterally revoke the use of its information if it considers it appropriate in the public interest to so do.

Yes. Insurance plays a critical role in protecting you, your family, and dependents from possible financial hardship after a hurricane. It is important that you, as the policyholder, play your part to ensure that following a hurricane, the benefits you receive from your insurance policies are sufficient to address your needs. For helpful tips, click here

The sectors which CIMA regulates are banking services, insurance, trust, securities, investment, cooperative and building societies, corporate services, and money services business.

CIMA is the primary regulator for the Cayman Islands financial services industry.

The Cayman Islands is recognised as the second largest domicile for captive insurance companies.

The Cayman Islands is the number one domicile of choice within the hedge funds industry.

The Cayman Islands is number one in healthcare captives.