Continuing Obligations For Cayman Islands Private Funds – Exempted Limited Partnerships

The continuing obligations of Cayman Islands 'private funds' that are established as exempted limited partnerships (ELPs) are primarily set out in the Exempted Limited Partnership Act (as amended) and the Private Funds Act (as amended) of the Cayman Islands.

Each ELP private fund must:

• pay an annual fee to the Cayman Islands Registrar of Limited Partnerships (the Registrar);
• pay an annual fee to the Cayman Islands Monetary Authority (CIMA);
• file audited financial statements and a Fund Annual Return Form (FAR Form) with CIMA;
• notify the Registrar and CIMA of any change to the fund's registered office;
• notify the Registrar of any material changes to the ELP's name, nature of business, duration or general partner;