Legal Insights

Corporate governance in the Cayman Islands primarily follows international standards and best practices, influenced by various factors including legal frameworks, regulatory bodies like the Cayman Islands Monetary Authority (“CIMA”), and market expectations.

Open-Ended Funds – The Mutual Funds Act (for open-ended funds) and the Private Funds Act (for closed-ended funds) are the two main statutes relevant to the regulation of investment funds in the Cayman Islands. The Cayman Islands Monetary Authority (“CIMA”) is the regulatory body responsible for compliance with…

In certain circumstances, the liquidator of a British Virgin Islands (“BVI”) company may be able to set aside certain transactions which took place in the lead up to the company’s liquidation. It is important for those concerned with the affairs of a BVI company that they are aware…

All shareholders of a company incorporated in the British Virgin Islands (“BVI”) have certain rights and protections. However, the imbalance of voting powers within a company can result in the controlling majority conducting the affairs of the company in a manner that is prejudicial to the rights of…

Exempted limited partnerships are popular offshore investment vehicles in the Cayman Islands, especially with private equity investors and venture capitalists who have, or may be looking to, set up their investment vehicle by way of the established GP-LP structure.

Amendments to the BVI Business Companies Act 2004 (the “BCA”) came into force on 1 January 2023 which changed the landscape for striking off, dissolving and subsequently restoring a British Virgin Islands (“BVI”) company to the Register of Companies (“Register”). This Briefing Note recaps the current position and…

Fireside chat with Edmond Fung, Senior Legal Manager (pending registration as a Senior Associate with the Hong Kong Law Society) in Loeb Smith’s Hong Kong office advising on Litigation, Commercial Disputes and Insolvency in respect of British Virgin Islands law.

There are certain notorious pitfalls to avoid in the context of British Virgin Islands (“BVI”) and Cayman Islands banking & finance and corporate transactions. In this article, we examine five such pitfalls. While there are no “one size fits all” solutions to these issues, we set out some…