Termination and de-registration of Cayman regulated funds: consider action now to reduce 2018 fees
Managers of Cayman Islands regulated funds who are reviewing whether to wind any funds down before the end of 2017 may want to act promptly to avoid or reduce the annual 2018 Cayman Islands Monetary Authority (CIMA) fees and related costs. Regulated funds which file their de-registration documents with CIMA before 31 December 2017 will not be liable to pay the 2018 CIMA fees, currently US$4,268 for a regulated feeder fund and US$3,048 for a regulated master fund. Funds may also save related service provider fees, including annual audit fees, once they have de-registered.
For more information on how Harneys can assist and key contacts please visit www.harneys.com/cayman.