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ARTICLE · 14 JANUARY 2020

Cayman Islands Private Funds Bill, 2020

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As the Bill will not be considered by the Cayman Islands Legislative Assembly until 30 January 2020, the details in the Bill outlined below remain subject to change.

Cayman IslandsFinance and Banking
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On 8 January 2020, the Cayman Islands Government ("CIG") published a draft Private Funds Bill, 2020 (the "Bill") which provides for the registration of closed-ended funds (termed 'private funds') with the Cayman Islands Monetary Authority ("CIMA").

The Bill, reflecting the Cayman Islands' commitment as a co-operative jurisdiction, is responsive to EU and other international recommendations and covers similar ground to existing or proposed legislation in a number of other jurisdictions.

As the Bill will not be considered by the Cayman Islands Legislative Assembly until 30 January 2020, the details in the Bill outlined below remain subject to change.

Definition of Private Fund

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