Opening A Bank Account

If you wish to open a bank account or use financial services offered in the Cayman Islands, you will be asked to provide personal information in order to establish and confirm your identity, as required by Cayman law.

The following is a list of information/items required prior to the opening of a personal account:

• An original financial reference addressed to the Bank indicating a satisfactory relationship of over three years, and quoting approximate average balances maintained over the past six months.
• Your full name, residential address, telephone/fax numbers, nationality, date and place of birth, occupation, name and address of employer
• Details regarding the purpose of the account.
• The nature and dollar volume of anticipated transactions through the account including the source of funding of initial and subsequent deposits.
• A notarised clear copy of your passport or driver's license (with photo showing).
• Confirmation of physical address ( e.g. copy of a utility bill or drivers license.)

In addition, for accounts of non-resident individuals, most banks require original character references addressed to the bank directly from a law or an accounting firm.

Certification of identification is not required of persons who have been personally interviewed at the Bank and from whom a photocopy of passport has been taken by Bank personnel.

There will be situations that are not covered by the above and banks are pleased to discuss their requirements in these exceptional cases.

Click here for a list of banks that are able to help you open an account in the Cayman Islands.