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ARTICLE · 15 APRIL 2024

Registering Private Funds With CIMA

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All Cayman entities that fall within the definition of "private fund" in the Private Funds Act (2021 Revision) are required to register with the Cayman Islands Monetary Authority (CIMA).

Cayman IslandsFinance and Banking
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All Cayman entities that fall within the definition of "private fund" in the Private Funds Act (2021 Revision) are required to register with the Cayman Islands Monetary Authority (CIMA).

The characteristics of a "private fund" are the pooling of investor funds with the aim of spreading investment risk, where the investors do not have day-to-day control over investment decisions but instead the investments are managed by or on behalf of the operator of the fund (e.g. directors or general partner), and where the "investment interests" subscribed for by investors carry an entitlement to participate in the profits and gains arising from the investments but, crucially, are not redeemable or repurchasable at the option of investors.

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