Legislation to increase Cayman's attractiveness for
partnership formation, as well as a law that will give more rights
to persons who are not direct parties in a contract, was approved
on Friday, 11 April in the Legislative Assembly.
Both pieces of legislation will become effective once the
Governor has assented to them, and following their publication in
the Cayman Islands Gazette.
The Exempted Limited Partnerships Bill will repeal the current
Exempted Limited Partnerships Law. It enhances Cayman's
partnership formation framework by providing much more flexibility
in the types of partnerships that can be formed, similar to what is
provided in the Companies Law. It also provides for the
registration, licensing and regulation of exempted limited
The Contracts (Rights of Third Parties) Bill gives the authority
to enforce rights to persons who are not direct parties in a
contract, once these rights have been conferred to them by the
contract's principal parties.
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