Businesses across the Cayman Islands are paying sharply higher licensing fees from this week, after the Ministry of Financial Services and Commerce rolled out a long-awaited overhaul.
The new fees took effect on 28 April and apply to accounting firms, realtors, property developers and exempt companies.
They were introduced under revenue measures tied to the 2026/27 Budget and leave some charges more than 13 times higher than before.
The shake-up covers accounting firms holding trade and business licences (TBLs), real estate and property development operators with TBLs and local companies control licences (LCCLs), Caymanian property developers, and exempt companies with TBLs.
The ministry said the revisions form part of a wider commerce reform programme aimed at bringing charges in line with present-day operating conditions.
Many fees had not moved since 2014, even as costs at the Department of Commerce and Investment climbed alongside demand for licensing, supervision and enforcement.
The changes are being delivered through the Trade and Business Licensing (Amendment of Schedule 1) Regulations (2026) and the Local Companies (Control) (Fees) (Amendment) Regulations, 2026.
Accounting firms have also been split into three new categories – audit firms, accountancy service providers and insolvency firms.
Property developers will feel the change most sharply.
Caymanian licensees see fees rise from CI$750 to $5,000, while LCCL holders with 15 or fewer staff move from $750 to $10,000, and those with 16 or more workers will now pay $20,000.
Real estate operators face a similar squeeze.
LCCL holders with TBLs in the category jump from $750 to $10,000, although Caymanian-owned agencies and individual Caymanian agents stay at $750, with the agency fee carrying an additional $750 for each affiliated agent.
Exempt companies climb from $800 to $12,500.
For audit firms, fees now scale with headcount. The smallest outfits, with one to five professionals, pay $50,000, rising to $600,000 plus $2,500 per professional for firms with 251 or more.
Accountancy service providers will pay between $2,500 and $60,000 depending on size, while insolvency firms face charges from $10,000 to $125,000.
The bill grows steeper under the Local Companies Control Licensing Act. Real estate operators move from $12,500 to $50,000 a year, while property developers see annual fees jump from $12,500 to $100,000.
The ministry said it consulted the Trade and Business Licensing Board, the Cayman Islands Institute of Professional Accountants, and Caymanian developers and realtors, including several micro and small businesses, before pushing the changes through.
