As year end approaches, it is time to start planning the
liquidation of Cayman Islands entities that have reached the end of
their life cycle, to ensure that unnecessary fees are not
incurred.
In order to prevent the expense of annual 2020 government
registration fees, an appointed liquidator will be required to hold
the final general meeting for a company or file the final
dissolution notice for an exempted limited partnership on or before
31 January 2020. Furthermore funds that are registered with the
Cayman Islands Monetary Authority
("CIMA") pursuant to the Mutual Funds
Law (2019 Revision) ("Funds") should
consider submitting documentation to have their CIMA status changed
to license under termination / liquidation by 31 December 2019 in
order to qualify for a reduction in their 2020 annual fee.