Part A – Investment Fund Obligations
Note in particular that penalties frequently apply for late filings and so the registered office should be informed promptly of any notifiable changes to allow the appropriate filing/s to be made.
The following covers the requirements of an investment fund in the Cayman Islands assuming it is a 'Reporting Financial Institution'.
Anti-Money Laundering Obligations
Part B: Exempted Limited Partnerships
Please see our Guide to Private Equity in the Cayman Islands for details of exempted limited partnerships established in the Cayman Islands under the Exempted Limited Partnership Law (the ELP Law).
Footnotes
1 Tax Information Authority (International Tax Compliance) (United States of America) Regulations (US Regulations).
2 Please speak to your usual Harneys contact if you believe that your fund is not a Reporting Financial Institution.
3 Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations (CRS Regulations)
4 Tax Information Authority (International Tax Compliance) (United Kingdom) Regulations (UK Regulations)
5 Current Schedule 3 jurisdictions are Argentina, Australia, Austria, Bahamas, Bahrain, Barbados, Belgium, Bermuda, Brazil, British Virgin Islands, Canada, Cyprus, Denmark, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hong Kong, Iceland, India, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Liechtenstein, Luxembourg, Malta, Mexico, Netherlands, New Zealand, Norway, Panama, People's Republic of China, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, United Kingdom and United States of America.
6 Where per day penalties apply, the Registrar may cap the total penalty payable at CI$1,000 / US$1,220 if satisfied that the failure is not due to wilful default.
7 At least one general partner must be an individual resident in the Cayman Islands, a company incorporated in the Cayman Islands, a company registered as a foreign company in the Cayman Islands, a limited liability company registered under the Limited Liability