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Important changes in Cayman law regarding investment funds

Businessmen, who previously decided to register an investment fund in the Cayman Islands, should be aware of some changes in the legislation of the Cayman Islands.

We are talking about officials (hereinafter referred to as officers), who should be appointed by investment funds in the Caymans. Officers will verify, that investment funds comply with AML.

A brief information

This island is considered one of the largest financial centers in the world. It is economically, politically stable jurisdiction.

Advantages for those, who decide to open a fund in the Caymans:

  • a quick registration of companies;
  • no currency control;
  • a developed banking system;
  • a comfortable taxation;
  • the possibility of registering investment funds in the Cayman Islands.

Caymans is one of the most popular countries among entrepreneurs, who want to establish an investment fund. If you are interested in registering an investment fund in the Caymans, then you can find out all the details from IQ Decision lawyers.

Primary requirements

Investment funds, registered in the Cayman Islands, before June 1, 2018, must appoint a competent person (an officer), who will help such funds comply with AML standards.

If you register the fund in the Cayman Islands after the above date, you must first appoint such an officer.

Requirements for the officer:

  • An individual;
  • A qualification, the awareness;
  • Appointed on an ongoing basis;
  • Must be unbiased, independent and autonomous in making its decisions;
  • May has a substitute;
  • Has the appropriate authority to exercise its direct functions;
  • Investment managers, who work in fund service companies, can be appointed officers.

A fund is not required to disclose officer data in its investment proposals. But, nevertheless, the regulator expects, that each fund will transmit the information about the appointment of an officer and details of how investors will be able to obtain the information about these individuals.

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What will happen, if these requirements are not met?

If the entrepreneur, who decided to set up an investment fund in the Caymans, does not appoint an officer, then appropriate sanctions may be taken against the company.

How to open an investment fund in the Caymans?

Planning to establish a fund in the Caymans, in some other jurisdiction, contact our company for a professional help.

Our services:

  • consulting services;
  • legal support in the registration of companies/funds/trusts;
  • legal support in opening accounts;
  • etc.

You can call us, using the contacts, that are available on the website.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

Are you interested in qualified advice from our specialists on this matter?

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