Legal Insights

By way of an update on our recent publication (which can be found here) that the Financial Action Task Force (FATF) had determined that the Cayman Islands has substantively fulfilled its action plan, and following completion of a recent on-site visit by the FATF, the Cayman Islands has…

In The Matter of Padma Fund L.P. [FSD 201 of 2021] (RJP), the Cayman Grand Court held that the Cayman Court does not have jurisdiction to order the winding up of a Cayman exempted limited partnership (“ELP”) on the basis of a creditor’s petition for the winding up…

This article will provide a general overview of the steps involved in the formation and running of a closed-ended investment fund in the Cayman Islands pursuant to the Private Funds Act (As Revised) (the “Act”).

Globalization is defined as the process of interaction and integration among people, companies, and governments worldwide. It is primarily an economic process of interaction and integration causing a growth in international trade and the exchange of ideas, beliefs, and culture.

The British Virgin Islands (BVI) and the Cayman Islands remain among the most popular jurisdictions for incorporating cryptocurrency trading vehicles. For example, the bankrupt cryptocurrency exchange FTX Trading identified that 22% of its customer base is located in the Cayman Islands, with 11% in the BVI. This is…

A BVI Professional Fund is the most popular type of BVI open-ended investment fund. According to the BVI Financial Services Commission (“FSC”) statistical bulletin for Q3 of 2022, published on 21 December 2021, as at 30 September 2022, there were 856 Professional Funds recognized by the FSC in…

Administrative Fines Regulations in respect of Cayman Private Funds 1.1. The administrative fine regime in the Cayman Islands was implemented pursuant to the Cayman Islands’ Monetary Authority (Administrative) Fines (Amendment Regulations), 2020, as amended (“Administrative Fines Regulations”) and extend the application of the fines administered by CIMA from…

Cayman Islands Monetary Authority’s Statement of Guidance – Corporate Governance What is the significance of the Statement of Guidance issued by the Cayman Islands Monetary Authority? The Statement of Guidance is in line with international governance practices and re-affirms certain principles and practices that have been discussed in…