Legal Insights

The main regulatory body in the Cayman Islands that regulates open-ended investment funds, closed-ended investment funds, fund managers and parties marketing investment funds is the Cayman Islands Monetary Authority (CIMA). The main statutes from which CIMA derives its supervisory powers and duties in respect of investment funds are…

The Virtual Asset (Service Providers) Act, 2020 (VASP Act) as amended, provides a legislative framework for the conduct of virtual assets busi¬ness in the Cayman Islands, and the registration and licensing of persons providing virtual asset services. Since the introduction of the VASP Act, the Cayman Islands Monetary…

The British Virgin Islands (BVI) continues to attract virtual assets businesses seeking to capitalise on its status as a leading offshore financial centre. Unlike other jurisdictions that have either prohibited certain types of digital assets or imposed material restrictions on them, the BVI has become renowned as the…

In December of 2019, British Virgin Islands (“BVI”) introduced a regulatory regime for the recognition of private investment funds, the Private Investment Funds Regulations, 2019 (the “Regulations”). Under these Regulations, closed-ended funds (including, real estate, private equity and venture capital funds) which were previously not regulated in the…

The Cayman Islands has a deserved reputation for boasting a variety of alternative and original structures. Whilst as a common law jurisdiction the concept of a trust is one that is recognised, upheld and commonly utilised, the Cayman Islands nonetheless has some alternative structures to rival the traditional…

With inflationary pressures coming to the fore in certain areas of the global economy and the continuing impact of Covid-19, there are many important and urgent issues to discuss. In our capacity as offshore legal advisers, we wanted to highlight some of the features from our Investment Funds/M&A…

2021 saw an unprecedented surge in ESG debt issuance, arguably underpinned by growing investor appetite for sustainable and green- linked investment options. The UK insurer Aviva reported that 55% of more than 500 investors in its survey claimed that the covid-19 pandemic influenced the likelihood of considering ESG…

The BVI’s Securities and Investment Business (Incubator and Approved Funds) Regulations, 2015 (the “Regulations”) introduced the “Incubator Fund” which provides a streamlined basis for start-up investment managers to establish a track record of managing funds with an open-ended strategy. The Incubator Fund regime under the Regulations does not…