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ARTICLE · 08 FEBRUARY 2016

Five Key Ongoing Obligations For Cayman Islands Regulated Funds

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Once your fund is registered with the Cayman Islands Monetary Authority (CIMA) it will need to comply with various ongoing obligations under the Mutual Funds Law.

Cayman IslandsFinance and Banking
Fiona Chandler
Fiona Chandler
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Once your fund is registered with the Cayman Islands Monetary Authority (CIMA) it will need to comply with various ongoing obligations under the Mutual Funds Law.

The list isn't long but it's important for regulated funds to comply to keep the fund in good standing with CIMA and avoid offences / penalties. Failing to comply with FATCA-related reporting obligations can also potentially result in a 30% withholding tax applying to the fund, which is clearly best avoided.

So, if your fund's registered under section 4(3) of the Mutual Funds Law ( see our earlier blog on the different kinds of funds), what are its ongoing obligations?

1. Tell CIMA about changes to the Offering Document and certain specific fund changes

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