On 27th April 2016 the Cayman Islands passed legislation introducing a Limited Liability Company regime.
These hybrid vehicles are corporate bodies with separate legal personality which offer members a high level of flexibility in the management and operation of the LLC. As with US –style LLC's, a Cayman LLC enables each member to have a capital account and for the profits and losses to be allocated and distributed to members as those members may agree amongst themselves in the LLC agreement.
The new vehicles, which complement the existing company and limited partnership regimes, are expected to be popular particularly for hedge funds and private equity structures.
Originally published on May 3rd 2016
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