This DMS Advisory reminds investment funds stakeholders
of impending deadlines to be met if they are contemplating formally
closing a fund or a redundant vehicle via a Voluntary Liquidation
or strike off. Now is the time to act to ensure that 2018 fees are
not unnecessarily incurred.
HOW MUCH CAN BE SAVED?
CIMA Registered Funds
In order to avoid 2018 annual Cayman Islands' Registrar of
Companies fees, a Voluntary Liquidator would need to have held the
Fund's final general meeting (FGM) before 31 January 2018. For
a Limited Partnership, the final dissolution notice must be filed
by this date.
CIMA Registered Funds
If the Fund will cease to operate on or before 31 December 2017 and
the Voluntary Liquidator of the Fund can be appointed by 31
December 2017, filings can be made with CIMA to place the Fund into
'Licence Under Liquidation' and if such filings are
delivered to CIMA by 12pm on 29 December 2017 (31 December being a
Sunday), the 2018 annual CIMA license
