A recent law change requires most private funds to register with
the Cayman Islands Monetary Authority (CIMA) for the first time
– and they must do so by 7 August 2020.
Jurisdiction
Cayman Islands
What's new?
Following a six-month transition period, an important amendment to the Cayman Islands
Private Funds Law came into effect on 7 July 2020. It changes the
definition of a closed-ended or ‘private' fund and in
doing so, increases the number and categories of funds that must
register with the Cayman Islands Monetary Authority (CIMA). The
registration deadline is 7 August 2020.
Key points of the amendment are as follows.
- Fund vehicles that offer or issue
investment interest fall inside the definition of a Private
Fund.
