Legal Insights

Based on our experience of advising initial coin offerings (ICOs) and security token offerings (STOs) and of undertaking legal due diligence for institutional clients seeking to acquire tokens in ICOs and STOs, in this brief update, we discuss a few of the issues that should be considered when…

Voluntary liquidation or Strike-off? Alternatives to voluntarily achieving the conclusion of operations and dissolution of Cayman companies There are two principal routes to voluntarily dissolving a Cayman Islands company after the conclusion of its operations. Dissolution can be achieved either through (i) voluntary liquidation or (ii) a strike-off….

The Cayman Islands Data Protection Law, 2017 (“DPL”) which will regulate the future processing of all personal data in the Cayman Islands or by any entity established in the Cayman Islands will come into effect on 30 September 20191. Cayman Islands’ entities that handle any individual’s personal information…

REMINDER FOR ENTITIES REGISTERED WITH CIMA AS SIBL EXCLUDED PERSONS The deadline for filing the following AML/CFT Reporting Forms: AML/CFT Inherent Risks – Securities – AIR-157-75 AML/CFT Risk Controls – Securities – ARC-158-75 with the Cayman Islands Monetary Authority is 15th August, 2019.

The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”), which is part of the OECD’s global Base Erosion and Profit Shifting (BEPS) initiative, was passed on 17 December 2018 and came into effect on 1 January 2019. The Economic Substance Law will be…

In general, the rights of shareholders of Cayman Islands domiciled companies are governed by the provisions of the Companies Law (2018 Revision) as amended (the “Companies Law”) and the provisions contained in the Memorandum of Association (“Memorandum”) and Articles of Association (“Articles”) of the company. Section 25(3) of…

Could you briefly explain the concept of the Segregated Portfolio Company? Once registered under the Cayman Islands Companies Law, a segregated portfolio company (“SPC”) can operate segregated portfolios (“SPs”) with the benefit of statutory segregation of assets and liabilities between portfolios.

In our guidance note Top Ten Best Practices for an ICO Founders’ Team: A View from the Cayman Islands, ICO founder teams and promoters looking at the Cayman Islands for incorporation of their company or companies were warned that, while the Cayman Islands had flexible pragmatic rules encouraging…