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Cayman Islands

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Cayman Islands > Legal Developments > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Initial Coin Offerings in the Cayman Islands

December 2017 - Finance. Legal Developments by Stuarts Walker Hersant Humphries.

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Initial Coin/Token Offerings (“ICOs”) are becoming an increasingly popular means of fundraising for new projects and utilise blockchain technology to do so.

Cayman Compliance and Transparency

The Cayman Islands is a transparent International Financial Centre which complies with all global standards on tax transparency and information exchange.

Disclosure of Confidential Information within the Cayman Islands’ Financial Services Industry

The Government published The Confidential Information Disclosure Bill (“CIDB”) on 11 May 2016 which came into force in September 2016.

Cayman Limited Liability Companies Bill

The Limited Liability Companies Law, 2016 (the “Law”) permits the formation of a new type of vehicle in the Cayman Islands – a Cayman Islands limited liability company (an "LLC").

Legal Update: The Insurance (Portfolio Insurance Companies) Regulations, 2015

The following information relates to the enactment of The Insurance (Portfolio Insurance Companies) Regulations, 2015 and the commencement of related sections of The Insurance (Amendment) Law 2013. The changes permit licensed insurers established as segregated portfolio companies to incorporate one or more of their cells as “portfolio insurance companies”.

Revised Exempted Limited Partnership Law

The revised law applicable to Exempted Limited Partnerships ("ELPs"), the Exempted Limited Partnership Law (2014 Revision) (the "Law"), came into force on 2 July 2014.

The purpose of the revised Law is principally to enhance Cayman's partnership formation framework by providing much more contractual flexibility and to help align the drafting of a Cayman Islands partnership agreement with that of an onshore partnership in, for example, master/feeder structures.

To read our detailed legal update click here revised_exempted_limited_partnership_law

AB Jnr & Another v MB & Others (Unreported, 18 December 2012)

April 2013 - Finance. Legal Developments by Ogier .

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AB Jnr & Another v MB & Others was a significant decision of the Financial Services Division of the Grand Court of the Cayman Islands, relating to a Trust Deed, dated 21 November 1985.  The weighty judgment of Hon. Anthony Smellie, CJ, at some 204 pages, follows an In Camera hearing taking place over the course of a 9 week period, between April and June 2012.

Probate and Estate Administration: the Practicalities of Dealing with Cayman Assets After Death...

January 2013 - Finance. Legal Developments by Ogier .

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(Non-Cayman Domiciliaries)  

Introduction

When a non-Cayman domiciliary dies owning Cayman Islands assets, the heirs want to access those assets as quickly and efficiently as possible. This Briefing Note deals with the practical steps involved. Reference should be made to the separate Briefing Note, entitled "Succession and Estate Administration in the Cayman Islands (non-domiciled individuals)" for an understanding of the conflict of laws issues that may arise on death. Those issues need to be resolved before the practical steps can be taken to deal with an estate.

It should be borne in mind that any assets held by a Cayman Islands incorporated company are classed, for this purpose, as Cayman Islands situated property (with some possible additional complications where a Cayman Islands company owns immovable property elsewhere in the world). It should also be borne in mind that if assets were transferred, prior to death, into a Cayman Islands Trust, it is unlikely that the following processes will be needed.

Succession & Estate Administration in the Cayman Islands (Non-Domiciled Individuals)

January 2013 - Finance. Legal Developments by Ogier .

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INTRODUCTION

The status of the Cayman Islands as an International Financial Centre inevitably means that it attracts significant inflows of capital from individuals who are based overseas, and who are legally domiciled elsewhere.

When those individuals die, it is important to understand the conflict of laws issues that can arise. These will need to be addressed before the heirs can access the Cayman Islands assets. This process is underpinned by a combination of Cayman Islands and international law principles and varies depending on whether the deceased died with or without a valid Will. The process also depends on whether that Will has been admitted to probate in another probate jurisdiction, and whether the Will names executors to deal with the process of the administration.

In all cases, we can assist with quickly and efficiently allowing the heirs to gain access to the assets of the deceased, dealing with all of the legal formalities on behalf of the family.

Aircraft Registration

January 2013 - Finance. Legal Developments by Ogier .

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Introduction

The United States remains the most popular place in the world to register corporate jets. However, there are a number of reasons that the US is not appropriate for everyone. The Cayman Islands, since 1976, has been attracting a number of Aircraft Registrations and presents a viable alternative to the US, and other registration jurisdictions.

The Cayman Islands acts under the purview of the British Civil Aviation Authority. The process of registration generally takes 2 to 3 weeks to complete.

The Cayman Islands register (the Aircraft Register) is highly respected and recognised throughout the international aviation industry. The majority of the aircraft on the Aircraft Register are private exclusive jets (such as the Boeing Business Jet, Airbus A320, Gulfstream GIV and GVs, Falcon 900B, Falcon 2000, Hawker 900XP and Bombardier Global Express). There is also increasing interest in the Cayman Register to register commercial aircraft.

The Cayman Register can be used to register an aircraft in the "private" category, and this has been expanded to include all turbo-jet aircraft, all other aircraft above 5,700kg and helicopters that are based on yachts.