Cayman Islands Voluntary Liquidations 2019

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.