Law Firm Directory

Browse all firms with extended profiles for Cayman Islands

Overview

As a world-leading financial centre, the Cayman Islands remains a go-to jurisdiction for fund formations, with 80% of all new offshore formations occurring in the territory and the Cayman Islands Money Authority’s fund register closing in on 30,000 active funds. The insurance market has also continued to be an active source of work for firms with reinsurance mandates being particularly active; firms also highlight several transactional trends despite a slower M&A market, with structuring work involving Latin American countries and restructurings stemming from Asian markets particularly key.

The jurisdiction has also seen the impact of several recent legislation changes with revisions to the Cayman Companies Act coming into force in mid-2023 and further updates and amendments also made to both Cayman’s corporate governance and anti-money laundering regulations. Similarly, mid-2023 also saw the announcement by the Financial Action Task Force (FATF) that Cayman had largely addressed issues with anti-money laundering and combating the financing of terrorism (AML/CFT) policies as set out in FATF’s plan and would soon be eligible to be removed from the watchdog’s grey list.

Beyond the financial sector, the tourism industry has continued its post-Covid growth with tourist levels now close to returning to pre-pandemic numbers.


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