Cayman Islands Fund
WOJ assists companies that are based or domiciled in the Cayman Islands. The Cayman Islands is probably in the top three popular jurisdictions of choice for the creation and setup of funds worldwide. The Cayman Islands are an ideal place to setup a fund for for private placements as the island itself caters to institutional and sophisticated investors and high net worth individuals. This is mainly due to the islands’ restrictions on investment, its structure for fund counter-parties and the professional and differing levels of regulatory supervision by the Cayman Islands Monetary Authority (“CIMA”).
Exempted and Registered Funds in the Cayman Islands have no requirements to appoint a local administrator, which can be very difficult and time consuming to find an adequate local partner. Thus, funds are giving the choice of appointing an EU based and authorized administrator, which is where WOJ can play a role as our company is an EU based firm. This saves funds time and needed capital overhead.
- Exempted funds – the Cayman Islands authorities do not require registration with CIMA who are closed-ended funds or open-ended funds with no more than fifteen investors (who are capable of appointing and removing the operator of the fund) and where the minimum investment is at least US$100,000
- Registered Mutual Funds – the Cayman Islands authorities rquire these funds to be registered with CIMA, and require a local audit. Registered mutual funds require that institutional or sophisticated high net worth investors who invest a minimum initial amount of US$100,000 into the fund, or whose shares are listed on an approved stock exchange.
WOJ is happy to assist with you Cayman Fund needs.