Establishing a prime-brokerage business in the Cayman Islands
This note summarises the attractions of the Cayman Islands for prime brokers wishing to establish a prime brokerage business outside their home jurisdictions and it highlights the key Cayman issues that need to be addressed when setting up such a business in the Cayman Islands.
The Cayman Islands are so well entrenched as the leading domicile for offshore investment funds that it is easy to lose sight of the reasons for this success. The appendix to this note provides a more comprehensive explanation of what makes the Cayman Islands the leader in this field, and a leading offshore financial centre, but some of the key attractions are as follows:
Regulation: Cayman’s regulatory system is effective and transparent and is globally recognised as meeting or exceeding relevant international standards. Investors, fund managers, financial institutions and international regulatory authorities take comfort from funds and managers being regulated in the Cayman Islands, and the comfort so derived assists with launching, growing and operating such funds…
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Formal, court-driven restructuring proceedings are available into Luxembourg law, but for practical reasons, these are rarely used in practice.
Luxembourg is one of the leading domiciles worldwide for international investment vehicles.