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CIMA Notice: VASP 2023 Annual Renewal Fees

The Cayman Islands Monetary Authority (the “Authority”) is advising all registered virtual assets service providers (VASPs) that, as outlined in Schedule 2 of the Virtual Asset (Service Providers) Regulations 2020, their 2023 annual renewal fees will be the same amount as the fee paid at the time of registration.

The Authority has granted an extension until 15 March 2023 for the payment of said fees, failing which penalties for non-payment will accrue as outlined in section 5(5) of the Virtual Assets (Service Providers) Act (2022 Revision).

Should you require any further information, please contact

Source: Cayman Islands Monetary Authority

IMS is one of the longest established company management firms in the Cayman Islands. IMS is licensed by the Cayman Islands Monetary Authority to provide independent directors, company management and incorporation, mutual fund administration, captive insurance and trust services. For more information about our services, please contact us.

Disclaimer: this publication does not constitute legal or professional advice and should not be relied on as such.

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