Continuing Obligations For Cayman Islands Mutual Funds

The continuing obligations of Cayman Islands companies which operate as open-ended regulated funds (known as mutual funds) are set out in the Companies Act (as amended) and the Mutual Funds Act (as amended) of the Cayman Islands.

Each Cayman Islands regulated mutual fund must:

• pay an annual fee to the Cayman Islands Registrar of Companies (the Registrar);
• pay an annual fee to the Cayman Islands Monetary Authority (CIMA);
• file audited financial statements and a Fund Annual Return Form (FAR Form) with CIMA;
• notify the Registrar and CIMA of any change to the fund's directors or officers; and
• notify CIMA of any material changes to the information contained in any offering document or the relevant CIMA form containing prescribed particulars for the type of mutual fund in question (CIMA Form).