Cayman LLC Proof That Cayman Is Listening To US Managers

The Cayman Islands Government published The Limited Liability Companies Bill, 2015 on 18 December 2015 which, when enacted, will provide for the introduction of a new Cayman legal vehicle, the Cayman Limited Liability Company (LLC). The draft legislation closely aligns the Cayman LLC to the United States' Delaware LLC model which will mean that the new structure will be instantly recognisable to the US market. This is a significant development for Cayman.

"The introduction of the Cayman LLC will be an important step for Cayman and will represent an entirely new corporate form for managers and investors to use in their fund structures," says Matt Mulry, Partner, Financial Services, Dillon Eustace (Cayman). Mulry says that the view among industry practitioners is that the Cayman LLC might in many cases be a vehicle better suited to the Cayman investment fund product than a Cayman exempted company, limited partnership or unit trust.