Cayman Islands Introduce New Private Funds with Minimal Establishment Requirements

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The Cayman Island’s Private Funds Bill 2020, expected to become law by the end of January, will introduce a category of restricted-scope private funds whereby minimal establishment requirements will apply. According to several Caribbean legal specialists, this is probable to be extended to include private equity partnerships where the investors are HNWIs or specialised investors.

The Cayman Bill introduces key changes to the regulation of Cayman Islands investment funds by requiring closed-ended Cayman Islands fund vehicles to register with the Cayman Islands Monetary Authority before accepting funds from investors.