News Alert: Cayman Islands removed from the European Union’s list of non-cooperative jurisdictions for tax purposes

The Cayman Islands government confirmed earlier this week that the jurisdiction had been removed from Annex 1 of the European Union’s (“EU”) list of non-cooperative jurisdictions for tax purposes (the “EU Blacklist”). This action by the EU recognises the continuing cooperation by the Cayman Islands in meeting international standards of good tax governance and confirms…

Legal Update on amendments to the Cayman Islands Private Funds Law 2020 and what this means for private equity funds and closed ended investment vehicles domiciled in the Cayman Islands – further update

Purpose The purpose of this legal update is to: (i) inform you of the enactment of the Private Funds (Amendment) Law, 2020[1] on 7 July 2020 (the PFL Amendment) which introduces some important changes to the Cayman Islands Private Funds Law 2020[2] (the Private Funds Law and together with the PFL Amendment and regulations[3] pertaining…

Legal Update on the introduction of the Cayman Islands Private Funds Law 2020 and what this means for private equity funds and closed ended investment vehicles domiciled in the Cayman Islands

Legal Update on the introduction of the Cayman Islands Private Funds Law 2020 and what this means for private equity funds and closed ended investment vehicles domiciled in the Cayman Islands Purpose The purpose of this legal update is to inform you of the introduction of the Cayman Islands Private Funds Law 2020 [1] and…

Legal Update on the Cayman Islands Mutual Funds (Amendment) Law 2020

Legal Update on the Cayman Islands Mutual Funds (Amendment) Law, 2020 Purpose and effect The purpose of this legal update is to inform you of the introduction of the Cayman Islands Mutual Funds (Amendment) Law, 2020. (https://www.cima.ky/upimages/commonfiles/MutualFundsAmendmentLaw2020_1581524462.PDF, the MF Amendment Law). The MF Amendment Law has been introduced by the Cayman Islands government in response…

Forbes Hare London – Terms of Business 2020

Terms of Engagement for Legal Services Provided by Forbes Hare LLP The references in these terms of engagement (“Terms”) to Forbes Hare LLP, “us” and “we” mean Forbes Hare LLP, a limited liability partnership established in England with number OC380080. Although we are part of the Forbes Hare Group, it is Forbes Hare LLP which…

Forbes Hare Expands its Corporate and Investment Funds Practice with New Partner Hire

Forbes Hare Expands its Corporate and Investment Funds Practice with New Partner Hire Forbes Hare is delighted to announce that Patrick Colegrave (https://forbeshare.com/team/patrick-colegrave/) has joined the firm. Patrick will be a partner in the Corporate and Investment Funds team, based in Forbes Hare’s London office. Patrick has over twenty years’ experience, having previously worked at…

LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA)

LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) ________________________________________________________________________________________________ 1. Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018. Its purpose is to fulfil the BVI’s commitment to ensuring the highest standards of tax governance and to ensure that…