The continuing obligations of Cayman Islands private funds that are established as
exempted limited partnerships (
ELPs) are primarily
set out in the Exempted Limited Partnership Act (as amended) and
the Private Funds Act (as amended) of the Cayman Islands.
Each ELP private fund must:
pay an annual fee to the Cayman Islands Registrar of Limited
Partnerships (the
Registrar);
CIMA);
FAR Form) with CIMA;
notify the Registrar and CIMA of any change to the fund s
registered office;
notify the Registrar of any material changes to the ELP s
name, nature of business, duration or general partner;
notify CIMA of any material changes to the information
Introduction
The general partner of an exempted limited partnership
(
ELP) registered in the Cayman Islands may apply
for the ELP to be deregistered by way of continuation, pursuant to
section 43 of the Exempted Limited Partnership Act (the
Act). An ELP is capable of being deregistered,
pursuant to the Act, if:
it is transferring by way of continuation to a jurisdiction
which permits or does not prohibit such a transfer;
the ELP is in good standing with the Registrar of Limited
Partnerships (the
Registrar) and all outstanding
fees are paid; and
the Registrar is not aware of any reason of public interest why