Continuing obligations for Cayman Islands investment funds

The continuing obligations of Cayman Islands regulated funds are set out in the Companies Law and Mutual Funds Law (as amended).

Each Cayman Islands regulated mutual fund must: pay an annual fee to the Cayman Islands Registrar of Companies; pay an annual fee to the Cayman Islands Monetary Authority (CIMA); file audited financial statements and a Fund Annual Return (FAR) Form with CIMA; notify the registrar and CIMA of any change to the funds directors or officers; and notify CIMA of any material changes to the information contained in any offering document or the relevant CIMA form containing prescribed particulars for the type of regulated mutual fund in question.

A regulated mutual fund must file an annual return and pay an annual fee to the registrar. The annual fee is calculated by reference to the fund’s authorised share capital. The fund’s registered office in the Cayman Islands will file the annual return with the registrar and, when fees are received from the fund, pay the annual fee on the fund’s behalf. The fee is due in January of each year. Late fees will be assessed after 31 March of each year…

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