Under the Private Funds Law 2020, funds falling within the definition of a “private fund” will be required to register with, and be regulated by, the Cayman Islands Monetary Authority (“CIMA”). Such requirement became effective from 7 February 2020.
The Mutual Funds (Amendment) Law 2020 establishes that open-end funds formed in Cayman Islands that have 15 or fewer investors (who have the ability to appoint or remove the operator of the fund) are now required to register with CIMA.
The deadline established by CIMA for registration of both types of investment vehicles is August 7th, 2020.
About our Investment Management practice
Our team is composed of industry professionals, many of whom have obtained the Chartered Financial hands-on investment fund experience.
In addition to providing a suite of accounting and consulting services, we can provide independent advice and recommendations on a range of other
professional services available in the Cayman Islands, including law firms, fund administrators and fund directors.
We offer extensive expertise covering the entire spectrum of investment fund activities, and bring a wide range of combined local and global capabilities to help clients create maximum value.
We pride ourselves on our seamless approach to managing cross border arrangements with Deloitte’s global network of member firms and clients.