Opalesque Industry Update - By: Walkers After much anticipation in the market, we are delighted to report that the Limited Liability Companies Bill 2015 (the "LLC Bill") has been Gazetted in the Cayman Islands today and is expected to become law very early next year. Once passed into law, Cayman Islands Limited Liability Companies (an "LLC") will be available for the first time. A Cayman Islands LLC will be very similar to a Delaware limited liability company. There has been much demand from the US financial services industry for a Cayman Islands LLC, and we expect the market to take up using it straight away. The draft LLC Bill is largely based on the current Delaware Limited Liability Companies law, with certain changes for Cayman Islands law and concepts. The key features of a Cayman Islands LLC are:
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Industry Updates
Cayman Islands prepares for the introduction of LLCs
Friday, December 18, 2015
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