News & Analysis as of

Trusts Cayman Islands

Walkers

Jurisdiction Shall we make this exclusive?

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Jurisdiction clauses in trust deeds are critical in determining the forum for resolving disputes. These clauses can be either exclusive, conferring jurisdiction to a specific court, or non-exclusive, allowing for flexibility...more

Conyers

Top 5 Hong Kong Publications of 2024

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In Hong Kong, our most popular thought leadership provided clients with vital information on Cayman Islands investment funds, accompanying questions of corporate governance, and the key advantages of Cayman companies for...more

Conyers

Top 5 Bermuda Publications of 2024

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In Bermuda, our most popular posts and publications provided updates from our Corporate practice, particularly regulatory changes and insurance insights, along with reflections on private client matters and litigation....more

Conyers

Responding to Regulatory Notices: A Litigator’s Perspective

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There are a variety of information gathering and other compulsory notices available to regulatory and enforcement agencies based in the Cayman Islands, as tools these agencies can draw on to carry out their functions. In this...more

Carey Olsen

Building bridges, not barriers: setting up Cayman trusts to minimise conflicts

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Despite best intentions, it is impossible to entirely negate the risk of conflict arising from a family trust. By their nature, trusts tend to span several decades and "futureproofing" them against societal changes,...more

Carey Olsen

Wills and estates in the Cayman Islands

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Without advance planning the task of determining an individual’s final wishes and administering a deceased’s estate can be time-consuming and expensive. Set out below is a summary of the various ways in which an individual...more

Carey Olsen

An overview of Cayman Islands foundation companies

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A foundation company is a vehicle unique to the Cayman Islands. It has features akin to a company, retaining separate legal personality and limited liability, whilst functioning in a manner similar to a civil law foundation...more

Carey Olsen

Types and uses of Cayman Islands law trusts

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The Cayman Islands is one of the leading jurisdictions for the establishment and management of trusts. It has a sophisticated professional trust sector, modern trusts legislation and an effective judicial system. There is a...more

Conyers

The Benefits of a Cayman Islands Family Office

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It has been said that we are in the middle of a multi-trillion dollar transition of family wealth between generations. In order to facilitate that transition, careful planning and management of family wealth and assets need...more

Conyers

Disapplication of the Rule Against Perpetuities Takes Effect in the Cayman Islands

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The Perpetuities (Amendment) Act, 2024 (the “Act”) has taken effect in the Cayman Islands, providing for the disapplication of the rule against perpetuities for Cayman Islands ordinary trusts. This legislative development...more

Walkers

Rule and Statement of Guidance on Market Conduct for Trust and Corporate Service Providers and Company Managers

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The RSOG builds upon and clarifies existing market conduct standards for TCSPs and Company Managers where the underlying requirements are generally the same but with some differences. The RSOG implements market conduct...more

Conyers

The Impact of Cayman’s Revised Beneficial Ownership Regime on Trusts and Private Wealth Structures

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The Cayman Islands is in the process of implementing fundamental changes to its beneficial ownership regime. Most significantly, these include the removal of exemptions applicable under the previous regime, as well as more...more

Walkers

Cayman Abolishes Rule Against Perpetuities

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Previously, ordinary trusts established under Cayman Islands law were subject to the rule against perpetuities. This means such trusts were required to vest within a perpetuity period of 150 years, at which point the trust...more

Walkers

Enforcers are blessed: Grand Court confirms that Enforcers have standing to apply for the blessing of a momentous decision

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In the recent judgment of AA v JTC (Cayman) Limited (unreported, Cause No, FSD 12 of 2024 (IKJ)), the Honourable Justice Kawaley held that that an enforcer of a Cayman Islands STAR trust has the ability under Section 48 of...more

Conyers

Ready, Jet, Go!

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Despite mounting environmental concerns and political pressure around the use of private jets, the private aviation sector continues to experience strong growth, particularly in the Middle East and Asia. With increasing...more

Walkers

Cayman Islands STAR Trusts: Reinforcing the Role of Enforcers

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On 1 February 2024, Kawaley J handed down a judgment in the case of In re G Trust (Cause No. FSD 270 of 2023) in which he commented on some of the key features of Cayman Islands STAR trusts contained in Part VIII of the...more

Conyers

The Artful Trustee: Practical Tips for Holding Artwork in Trust Structures

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Acquiring artworks, antiques, and other collectibles is a common pastime of private clients, for reasons that can vary greatly from profit-making to maintaining cultural ties, or simply as a general reflection of their...more

Conyers

Private Client & Trust Bulletin: Fall 2023

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Welcome to the festive edition of the Conyers Private Client & Trust Bulletin, where we update on recent matters of interest from our jurisdictions of Bermuda, BVI and the Cayman Islands. This edition combines the...more

Conyers

The Use of Offshore Structures in the Hong Kong Family Office Tax Concession Scheme

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Never content to be left out of the competition for wealth management of ultra-high-net-worth families from Singapore and Dubai, Hong Kong recently enacted a new tax concession regime (Inland Revenue (Amendment) (Tax...more

Conyers

An Overview of Cayman Islands Private Trust Companies

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Many high-net-worth individuals and families use a private trust company (PTC) when looking to structure their family wealth. Given that settlors of trusts are sometimes reluctant to relinquish control over the assets...more

Conyers

Shares in BVI Business Companies – Avoiding a Succession Problem

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British Virgin Islands (“BVI”) business companies are often used for private wealth structuring purposes. However, where the shares in a BVI business company are registered in the name of an individual rather than a corporate...more

Conyers

Private Client & Trust Bulletin: Summer 2023

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Welcome to the latest edition of our Private Client and Trust bulletin. It is a pleasure to update you on various topics that we hope you will find of interest. As in previous editions we bring you updates from Bermuda...more

Conyers

Make No Mistake: Examining the Hastings-Bass Rule on Fiduciaries’ Mistakes Under Cayman Islands Law

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The Cayman Islands reformed its trust laws to provide a statutory mechanism by which flawed decisions of trustees and other fiduciaries can be set aside on application to the court. The codification of the Hastings‑Bass rule...more

Conyers

BVI: In the Matter of the Estate of Sheikh Saoud Mohamed Al Thani – BVIHCVAP 2021 / 0001

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Offshore Trust and Estate Litigation Update Series – Part II - Following on from Part I of this series which summarised the Cayman Court’s consideration of a trustee’s application for the “blessing” of a “momentous...more

Conyers

Cayman Islands: In the Matter of The X Trust and The Y Trust – FSD 57 of 2022 (IKJ)

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Offshore Trust and Estate Litigation Update Series – Part I - Trust and estate disputes in both the Cayman Islands and the BVI, and claims against the actions of a trustee/executor or disputes related to an interested...more

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