> For the complete documentation index, see [llms.txt](https://support.lisk.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://support.lisk.com/guides/getting-started/kyb-by-entity-type-and-jurisdiction/business-verification-preparation-guide-for-cayman-islands-entities.md). # Business Verification Preparation Guide for Cayman Islands Entities A practical pre-flight guide for Cayman companies onboarding to Lisk {% hint style="warning" %} **Important**: This guide covers typical Cayman exempted companies limited by shares and supplements Lisk's general business verification guide. Other structures need different evidence. Reviews are risk-based, so Bridge may request additional or replacement documents. {% endhint %} {% hint style="info" %} **Service-provider and data-handling notice**: Lisk provides the Platform interface and customer support. Bridge is the current regulated service provider. Bridge performs business and identity verification under its own compliance program, directly or through an identity verification provider it engages. Bridge makes the verification decision and may request additional evidence. Lisk collects information and documents submitted through the Platform, or sent in response to a request for information, for transmission to Bridge and may apply its own platform risk checks, but Lisk Support does not approve evidence on Bridge's behalf. Submit sensitive evidence only through the secure submission flow provided for your case in the Platform, by Bridge, or by the identity verification provider engaged by Bridge, or through the channel named in a request for information. If the route is missing or unclear, ask Lisk Support for instructions before sending documents. See [Bridge's business onboarding requirements](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/overview) and [Lisk's Terms of Service](https://lisk.com/legal/terms/), [Privacy Policy](https://lisk.com/legal/privacy/), and [Partner Terms](https://lisk.com/legal/partner-terms/). {% endhint %} [Complete Business Verification](/guides/getting-started/complete-business-verification-kyb.md): the full Lisk verification walkthrough. [Business Verification by Entity Type and Jurisdiction](/guides/getting-started/kyb-by-entity-type-and-jurisdiction.md): broader entity and jurisdiction guidance. ## **What is different for Cayman companies?** * A Cayman exempted company's legal registered office is generally the address of its licensed corporate-services provider. A post office box or virtual office alone does not prove where the business operates. * Remote companies should prepare separate evidence of their operating setup before starting. * [For the Lisk/Bridge flow](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/ownership), disclose every individual who directly or indirectly owns 25% or more. Cayman law also identifies a beneficial owner through [ultimate effective control or control by other means](https://gov.ky/documents/35692/0/Beneficial%2BOwnership%2BTransparency%2BAct%2B%2B%282026%2BRevision%29%2C.pdf/451d0c7a-a64d-65da-974e-4fd7863af95f). At least one Control Person must also be identified. * Layered ownership must be traceable through every intermediary entity to each qualifying ultimate beneficial owner. Prepare a current shareholder, member, partner, or equivalent ownership record for every intermediary entity, not only the applying company. * Cayman applications may receive follow-up requests for business activity, source of funds, or regulatory evidence after submission. ## **Prepare before you start** ### **Company and business** * Legal entity name, trade names, [Cayman Company Registration Number](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/identification), incorporation date, registered address, and principal operating address. * [Certificate of Incorporation](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/formation) as the primary formation document. Keep the current Memorandum and Articles of Association ready if Bridge requests additional formation or governance evidence. * A clear business description, website or product information, intended account use, and source of funds. If requested in the Lisk flow, also provide estimated annual revenue and expected monthly transaction volume. * A current Register of Members. Also keep the current [Register of Directors and Officers](https://gov.ky/documents/35692/0/Companies%2BAct%2B%282026%2BRevision%29%2C.pdf/345cf168-32c9-8b07-c7f3-1e645b076320) available in case Bridge requests control or signatory evidence. ### **People and ownership** * Personal information and government identity document for every individual the onboarding form asks you to verify, including every ultimate beneficial owner holding 25% or more and every required Control Person. * Identify at least one Control Person, such as a director or executive with significant responsibility. The signer must be authorized to act for the company. One person may fill both roles, but a Control Person is not automatically an ultimate beneficial owner. * For corporate shareholders or layered structures: a signed and dated ownership chart showing every intermediary entity, ownership percentage, and the natural persons behind the chain. * Current ownership evidence for each intermediary entity. The complete pack should account for 100% of the ownership chain. If a shareholders' agreement is requested but none exists, use [Declaration of No Shareholders’ Agreement - Guide and Template](https://docs.google.com/document/d/16QTPOmVq2XZtBIOATBF49l3mBbyVNnKmwS9adgWOaTA/edit). ### **Conditional evidence to keep ready** * [Operating-address evidence](https://apidocs.bridge.xyz/platform/customers/compliance/poa), if the principal operating address requires verification. * Proof of nature of business when the website or public information is limited. A cover sheet must be accompanied by records such as contracts, invoices, receipts, product material, or partner agreements. Use [Proof of Nature of Business - Evidence Guide and Cover Sheet](https://docs.google.com/document/d/1CK5i-fW4aklsGvfGyIIYYvxxtYgavgQSujayzPkSi2g/edit) to organize the submission. * If requested: source of funds evidence, such as recent bank statements, financial statements, tax records, or a signed parent-funding letter with supporting documents. * If the company conducts regulated activity outside the Lisk Platform, prepare any applicable Cayman Islands Monetary Authority registration or license, anti-money laundering materials, a description of how funds move through the business, and regulated-partner agreements. [Cayman virtual-asset custody and trading-platform services require a virtual asset service provider license](https://www.cima.ky/vasp-faq); other in-scope virtual-asset services require registration or an applicable waiver. Clearly separate activities conducted outside Lisk from any activity intended to be enabled through Lisk or Bridge. A license does not make a use case eligible if it is prohibited by Bridge's terms or [high-risk activity rules](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/highrisk). Describe any handling of customer funds. ## **Address evidence for remote Cayman companies** The registered address and principal operating address can be the same when the company genuinely operates there. If the company uses the corporate-services provider's office only for legal registration, use that address only as the registered address, enter the actual operating location as the principal operating address, and follow the route below. | **Situation** | **What to enter** | **What to prepare** | | ----------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Separate physical office or workspace** | Keep the corporate-services provider's registered-office address as the registered address. Enter the actual office as the principal operating address. | Evidence in the applying company's name: a bank statement, utility bill, or government letter issued within the last 90 days, or a current office lease. It must show a physical operating address, not a post office box or virtual office. | | **Fully remote company** | Keep the corporate-services provider's registered-office address as the registered address. When Lisk offers the remote-company route, enter the supported residential address where an eligible ultimate beneficial owner holding 25% or more operates the company as the principal operating address. | Upload accepted residential proof for that ultimate beneficial owner. A bank statement, utility bill, government-issued letter, or government-issued identity document must have been issued within the last 90 days; a residential lease may be older if it is current. Use this route only after the Lisk flow or Lisk Support confirms that Bridge has enabled it for your application. [Bridge's public proof-of-address requirements](https://apidocs.bridge.xyz/platform/customers/compliance/poa) do not provide a general exception for ordinary remote companies. Final acceptance remains with Bridge. | If no individual owns 25% or more, identify anyone who exercises ultimate effective control or control by other means. If Cayman rules identify no registrable beneficial owner, a senior managing official is recorded as the contact person; this is not automatically the Lisk Control Person. The remote-company route remains limited to an eligible ultimate beneficial owner holding 25% or more unless Lisk confirms that Bridge has approved another route for the application. ## **Cayman ownership records and Lisk roles** | **Role** | **Meaning** | **What to do** | | ----------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **ultimate beneficial owner** | For this Lisk/Bridge flow, an individual who directly or indirectly owns 25% or more. Cayman law may also identify a beneficial owner through ultimate effective control or control by other means. | Disclose every qualifying ultimate beneficial owner, complete the requested identity checks, and use only an eligible ultimate beneficial owner holding 25% or more for the remote-company route. | | **Control Person** | A director or executive with significant responsibility for the company. This person may or may not be an ultimate beneficial owner. | Identify at least one. A non-owner Control Person is not eligible for the 25%-owner address option described here; a different route requires Bridge's approval. | Ownership attestation: A Control Person can confirm the disclosed ownership structure using the [checkbox in Bridge's hosted flow](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/ownership), when that option is available for the application. This may satisfy the ownership-evidence requirement; it does not replace disclosure or identity checks for the required people, and Bridge may request documents. If separate confirmation of the Control Person's role is requested, use [Control Person Attestation Form - Guide and Template](https://docs.google.com/document/d/1_filkvAQGqBULv2D3PcqHXGoH-g5YJdFe9wn0j0QlzY/edit). ## **Common Cayman follow-ups** | **Follow-up** | **Why it happens** | **Prepare this** | | ---------------------- | ------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Operating address** | The registered-office address does not show where the company operates. | The correct company-level evidence or the conditional remote-company route described above. | | **Ownership chain** | The Register of Members shows only a corporate shareholder or does not trace the full structure. | A signed ownership chart plus current evidence for each intermediary entity. | | **Source of funds** | The source, legal relationship, or movement of funds is unclear. | Evidence matching the stated source of funds. For example, if a parent funds the company, evidence may include a signed funding letter and the relevant grant, equity, or loan documents. | | **Nature of business** | The website or public information does not prove the stated activity. | Contracts, invoices, receipts, product information, licenses, or partner agreements, organized with the cover sheet. | | **Regulated activity** | It is unclear whether the company conducts regulated activity or handles money for customers. | State the exact activity and submit any current Cayman Islands Monetary Authority registration, license, or waiver, anti-money laundering materials, funds-flow details, and regulated-partner agreements through the method Bridge specifies. For virtual assets, distinguish activity conducted outside Lisk from any custody, trading-platform, or other service intended through Lisk or Bridge. | ## **Fictional example** NovaChain Labs Ltd is a fictional Cayman exempted company that provides Web3 infrastructure and business-to-business software-as-a-service integrations. Its preparation pack includes the Certificate of Incorporation, current Memorandum and Articles, Register of Members, Register of Directors and Officers, and a signed ownership chart. Maya Chen owns 60% directly. Orbit Holdings owns 40%; Orbit is owned 75% by Luis Romero and 25% by Ava Singh, producing ultimate ownership of 60%, 30% and 10%. Maya and Luis are the ultimate beneficial owners holding 25% or more. Maya is also chief executive officer, director and Control Person. The corporate-services provider’s office remains the registered address. If NovaChain has a separate office, it prepares current company-level address evidence. If it is fully remote and Lisk offers the remote-company route, it may use recent residential proof for Maya, mapped to her as the eligible 60% ultimate beneficial owner. It also prepares the requested person identity document and address evidence, an executed software-as-a-service contract with a recent invoice and receipt, and a clear account-purpose and source-of-funds explanation. It receives its own business-to-business subscription and integration fees and pays cloud, security and contractor costs; it does not hold, exchange or transmit customer assets. This example is illustrative only. Bridge may request additional evidence after its risk review. Address and identity evidence: [Proof of Address and Identity Evidence Guide](/guides/getting-started/complete-business-verification-kyb/proof-of-address-and-identity-evidence-guide.md) Formation, ownership and company records: [Formation, Ownership and Company Records Evidence Guide](/guides/getting-started/complete-business-verification-kyb/formation-ownership-and-company-records-evidence-guide.md) Financial, tax, regulatory and request for information evidence: [Financial, Tax, Regulatory and Special RFI Evidence Guide](/guides/getting-started/complete-business-verification-kyb/financial-tax-regulatory-and-special-request-for-information-evidence-guide.md) Timing depends on document completeness and any follow-up requests. No review period is guaranteed.