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ARTICLE · 15 JANUARY 2016

Cayman Islands To Introduce Limited Liability Company

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After much anticipation in the market, we are pleased to report that the Limited Liability Companies Bill 2015 (LLC Bill) was published in the Cayman Islands on 18 December 2015.

Cayman IslandsWealth Management
Bryan Hunter
Bryan Hunter
Caroline Barton
Caroline Barton
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After much anticipation in the market, we are pleased to report that the Limited Liability Companies Bill 2015 (LLC Bill) was published in the Cayman Islands on 18 December 2015. The LLC Bill is expected to be in force this month making Cayman Islands Limited Liability Companies (LLC) available for the first time in the jurisdiction.

What is an LLC

The introduction of the LLC responds to requests made by the US financial services industry for a LLC vehicle. As a result the LLC Bill takes many key features of the current Delaware Limited Liability Companies Law and those familiar with the Delaware concepts will recognise many of these characteristics, with certain modifications to conform with Cayman Islands law and concepts. Essentially, the Cayman LLC is a hybrid entity, merging certain characteristics of a Cayman Islands exempted company with characteristics of a Cayman Islands exempted limited partnership.

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