CAYMAN ISLANDS Law and Practice Contributed by: Christie Walton, Patrick Rosenfeld and Philip Dickinson, Maples Group
Islands investment fund, the BOTA requires the entity to report that Cayman Islands investment fund as a “reportable legal entity” but does not require the entity to look through that reportable legal entity in identifying registrable beneficial owners in that chain of control or ownership. Potential Future Developments The Cayman Islands government is committed to continually improving financial services as an important industry and has proposed a number of legislative reforms that it believes would be commercially advantageous to the jurisdiction, including a proposal to permit the merger and consolidation provisions (currently in place for exempted companies and limited liability com - panies) to be extended to exempted limited part - nerships and a proposal to permit an exempted company or a limited liability company to con - vert to an exempted limited partnership.
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