The Perpetuities (Amendment) Act, 2024 (the “Act”) has taken effect in the Cayman Islands, providing for the disapplication of the rule against perpetuities for Cayman Islands ordinary trusts. This legislative development...more
The Cayman Islands is in the process of implementing fundamental changes to its beneficial ownership regime. Most significantly, these include the removal of exemptions applicable under the previous regime, as well as more...more
Many high-net-worth individuals and families use a private trust company (PTC) when looking to structure their family wealth. Given that settlors of trusts are sometimes reluctant to relinquish control over the assets...more
11/9/2023
/ Board of Directors ,
Cayman Islands ,
CIMA ,
Companies Act ,
Corporate Management ,
Corporate Structures ,
Philanthropy ,
Private Foundations ,
Private Trust Companies ,
Regulatory Requirements ,
Shareholders ,
Trustees ,
Trusts ,
Wealth Management
The holding company of many corporate groups trading in Asia is frequently incorporated in an offshore financial centre such as the British Virgin Islands (“BVI”). It is therefore common for high-net-worth individuals...more
Family offices can come in a wide variety of shapes and sizes, but their overarching function is to serve the needs of a wealthy individual or family group. With increasing diversity in the types of “family offices”, there is...more
Cayman Foundation Companies are booming in popularity. Statistics from the Register of Companies have shown a significant uptick in registrations in recent months.
2021 saw 281 per cent year-on-year growth in the...more
Cayman Islands foundation companies (Cayman Foundations) are increasingly being utilised as popular structuring vehicles in the sector. Although Cayman Foundations may initially have been intended to attract high-net-worth...more
STAR Trusts are a form of trust that is exclusive to the Cayman Islands (Cayman), and which have a wide variety of practical applications. The unique features of a STAR Trust provide clients with structuring options that are...more
11/18/2021
/ Beneficiaries ,
Cayman Islands ,
Commercial Use ,
Duration of Status ,
Duty of Confidentiality ,
Enforcement ,
Family Businesses ,
Initial Public Offering (IPO) ,
Jurisdiction ,
Philanthropy ,
Special Purpose Acquisition Companies (SPACs) ,
Trustees ,
Trusts
Robert Lindley and Wesley O’Brien provide a step-by-step guide to dealing with missing or uncooperative beneficiaries -
It will be important for the trustee to be capable of demonstrating that it has made sufficient...more
Offshore: What is appropriate?
Robert Lindley and Wesley O’Brien discuss cases where offshore family courts act as auxiliaries to those onshore -
Generally, for a foreign judgment to be capable of enforcement in an...more
10/14/2021
/ Beneficiaries ,
Cayman Islands ,
Divorce ,
Family Law Courts ,
Foreign Judgments ,
Foreign Jurisdictions ,
International Litigation ,
Joinder ,
Jurisdiction ,
Trust Deeds ,
Trustees ,
Trusts ,
UK
Welcome to the fifth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia.
In this issue, we have several notable...more
8/10/2021
/ Appeals ,
Asia ,
Beneficiaries ,
Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Corporate Governance ,
Divorce ,
Evidence ,
Investment ,
Piercing the Corporate Veil ,
Private Company Shares ,
Probate ,
Real Estate Investments ,
Residency Status ,
Settlors ,
Taxation ,
Trusts ,
Witness Statements
Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals...more
5/27/2021
/ Applications ,
Business Development ,
Cayman Islands ,
Eligibility ,
Foreign Direct Investment ,
International Jurisdiction ,
Relocation ,
Residence Taxes ,
Residency Requirements ,
Residency Status ,
Special Economic Zones ,
Tax-Residency Certificate
Welcome to the fourth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia....more
It’s trite to say that 2020 was a year marked by change. Having being bombarded with a variety of unsolicited adjustments to our daily lives, we could be forgiven for having developed a collective fear of change over the last...more