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Avoiding Penalties: A Checklist for Cayman Islands Funds in 2025
Cayman Islands private and mutual funds face several regulatory filing obligations in 2025. From Economic Substance reports to CRS filings, it’s essential to stay on top of deadlines and compliance requirements. Here’s a checklist to avoid penalties and stay compliant. 2025 Regulatory Deadlines Checklist: CIMA fee and Annual Declaration: Deadline:
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What are the legal requirements for redomiciling a BVI company to a new jurisdiction?
Redomiciling a British Virgin Islands (BVI) company to another jurisdiction involves several legal and procedural steps. While the specific requirements can vary based on the laws of the destination jurisdiction, the general process for redomiciling a BVI company typically includes the following steps: 1. Check the Destination Jurisdiction’s Laws: It
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The Duties of the Directors of a BVI Company
The duties of directors of a British Virgin Islands (BVI) company are pivotal to ensuring effective governance and compliance with legal standards. Primarily, directors are required to act in good faith and in the best interests of the company, prioritizing its welfare above personal interests. This fiduciary duty mandates that
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Factors to consider when establishing a family office in the Cayman Islands
Establishing a Family Office in the Cayman Islands presents a multitude of considerations that demand careful evaluation. Primarily, the jurisdiction’s regulatory environment is favourable, with robust privacy laws and no taxes on income, wealth, or capital or inheritance, creating an attractive backdrop for wealth management. This can all enhance asset
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Advantages that the BVI offers to businesses and investors
The British Virgin Islands (BVI) is a popular offshore jurisdiction for business incorporations. It offers several advantages that attract entrepreneurs and investors worldwide. The benefits and advantages of establishing businesses in the BVI include: Stability and reliability. As an autonomous British Overseas Territory that applies English common law rules and
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Benefits of applying for a VASP Licence in the BVI
The British Virgin Islands (BVI) has emerged as a prominent jurisdiction for businesses engaged in virtual asset services, particularly with the implementation of the Virtual Assets Service Providers (VASP) licensing regime. Pursuing a BVI VASP licence offers several notable advantages. Robust regulatory regime.Firstly, the BVI provides a robust regulatory framework
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Cayman Islands Foundation Companies and DAOs
Introduction The emergence of Decentralized Autonomous Organizations (DAOs) has revolutionized the landscape of digital governance and blockchain technology. In this context, the use of Cayman Islands foundations presents a strategic advantage for facilitating the operational efficiency and regulatory compliance of DAOs. Cayman foundations, as flexible legal entities, provide a robust
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Cayman Islands – The New Regulatory Regime for Private Funds
The Private Funds Act, 2020 (the "Law") came into force on 7th of February 2020 and introduced a requirement for the registration of closed ended funds (typically, investment funds which do not grant investors with a right or entitlement to withdraw or redeem their shares or interests from the fund
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Undertaking Voluntary Liquidations of Cayman Islands’ Entities prior to 31 December 2020
Voluntary liquidations generally As the conclusion of 2020 approaches, it is time for persons with Cayman Islands companies and/or limited partnerships to give some thought to whether or not they have Cayman entities which they are no longer using and wish to liquidate prior to the end of 2020 in
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Duties of Directors of a Cayman company
What are the duties of a Director of a Cayman Islands’ company? The constitutional documents of a Cayman Islands company, the Memorandum of Association and the Articles of Association (“Articles”), set out the governance rules and the powers of the Directors of the company. However, the Directors also owe fiduciary
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Cayman Economic Substance and Its Impact on Fund Managers
Cayman Economic Substance and Its Impact on Fund Managers The Securities and Investment Business (Amendment) Law 2019 (the "SIB Amendment Law") and the Directors Registration and Licensing (Amendment) Law, 2019 were both passed by the Cayman Islands Government on 18th June 2018. Cayman Economic Substance and Its Impact on Fund
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Economic Substance requirements for Cayman Islands companies
The Cayman Islands International Tax Co-operation (Economic Substance) Law, 2018 (the “Economic Substance Law”) came into effect on 1st of January 2019. The Economic Substance Law will be implemented, including by further regulations and guidance to be provided, by the Cayman Islands Tax Information Authority (“TIA”). All international offshore financial
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What Guidance for Cayman Companies Undertaking an ICO?
As at the date of this publication, there is still no specific regulation in the Cayman Islands addressing ICOs and blockchain technology. However, several of the existing laws and regulations are applicable to blockchain start-up companies and their pre-ICO and ICO operations. Also, a recent series of statements have been
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The benefits of Segregated Portfolio Companies for Investment Purposes
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. The principal advantage of an SPC over a standard exempted company is to protect the assets of one portfolio from
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How to Run a Business in the Cayman Islands & British Virgin Islands
The Cayman Islands and the British Virgin Islands (BVI) both provide offshore corporate structures for international investors for use as, among other things, holding companies to facilitate the structuring of investments. Company formation in both the Cayman Islands and the BVI is relatively straightforward. This infographic provides more information about
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Cayman Islands Company Formation – Q&A
Industry research suggests that China will soon rank first in the world as a source of new offshore incorporations. Traditionally, which regions of the world has your jurisdiction been most popular for? What types of business activity is most suitable for incorporating in the Cayman Islands? The demand for incorporation
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Voluntary Winding up of a Cayman Islands Company
A Cayman Islands company can be dissolved by the appointment of a liquidator or it can be dissolved without such appointment if the company is struck off the register as a result of an application to the Registrar of Companies for the purpose. Voluntary liquidation In circumstances where the company
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The Advantages of Using Cayman Islands Companies
The Cayman Islands exempted company (including the segregated portfolio company) is the corporate vehicle of choice among international investment fund managers and investors. The popularity of the exempted company is principally as a result of the Cayman Islands being rightly recognized as a stable jurisdiction for structuring international investments owing