Cayman Voluntary Liquidations 2020

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 avoid unnecessary fees.

In order to prevent the expense of annual 2021 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 29 January 2021.

Additionally, an entity that is registered with the Cayman Islands Monetary Authority ("CIMA") pursuant to the Mutual Funds Law (2020 Revision) or the Private Funds Law, 2020 ("Funds") may be required to submit documentation to CIMA to have its status changed to Licence under Termination / Liquidation. Documentation must be filed by 31 December 2020 in order for a Fund to qualify for a reduction in its 2021 annual CIMA fee.