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What does Source of Funds mean in Cayman?
What does Source of Funds mean in Cayman?
Updated over a week ago

The Cayman government requires shareholders to disclose the source of wealth or funds used to incorporate or become a shareholder of the company during the KYC process.

The intention is to provide assurance that no proceeds of crime are being used to fund, or being transferred through, the new company.

The source of funds statement should indicate how that person has built up wealth. Examples include from an employer, investments in the financial market, inheritance, or the sale of property.

We may ask you to supply supporting documentation demonstrating the declared source of wealth.

Example statement: "personal savings from years of employment at [...] for [...] number of years]" etc.

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