The Cayman Islands government has passed the Private Funds Law, 2020 which requires closed-ended funds to now register with the Cayman Islands Monetary Authority (CIMA).

All private funds that have commenced carrying on business must register with CIMA by 7 August 2020.

In conjunction with the law, the Government has also passed regulations which clarify the scope of an “alternative investment vehicle” and a “restricted scope private fund”.

We issued a client alert with further details which can be found here.