The following Private Client guidance note Produced in partnership with Mourant Ozannes provides comprehensive and up to date legal information covering:
This Practice Note provides guidance on Cayman Islands trusts. For general information about the Cayman Islands, see: Private Client jurisdictional guide—Cayman Islands.
Local trusts law is contained in the Trusts Law (2011 Revision, Laws of the Cayman Islands) as revised from time to time (the Trusts Law).The legislation is available in the further reading link to Spitz & Clarke Offshore Service in the related documents pod. Cayman Islands' trusts law is also based on English law's principles of equity and jurisprudence but there are significant statutory differences and so it should not be assumed that Cayman Islands' trusts law is identical in every way to that of England.
The features of interest to settlors in the Trusts Law are discussed below.
Trusts are created informally and there is no requirement to register a trust, although the providers of trustee services are registered and regulated.
There is provision at Trusts Law, Part VI for exempted trusts. A trust would have to be registered with the Registrar of Trusts, if a settlor wishes to take advantage of the procedure of applying for an undertaking from the Governor in Cabinet. No tax or duty levied in the Islands will apply to any property in the trust for a period not exceeding fifty years from the date of the undertaking. The register is not open
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.