De-registering A Fund In Cayman

There comes a time in a registered Cayman fund's life when it needs to de-register from the Cayman Islands Monetary Authority (CIMA). This could be early on, if the fund launches but never carries on business, or much later on the fund's winding up. It could also be anytime in between if the fund is no longer carrying on business as a regulated mutual fund, merges with another fund or transfers to another jurisdiction. A fund can also choose to de-register if it no longer meets the definition of a mutual fund, because it has become a single investor fund or a closed—ended fund, or it has become an exempted mutual fund, where the fund's shares are held by not more than 15 investors, a majority of whom are capable of appointing or removing the directors of the fund.