The following Private Client guidance note provides comprehensive and up to date legal information covering:
This Practice Note was produced in partnership with Anthony Partridge of Ogier, Cayman Islands and Wisdom Hon of Ogier, Hong Kong.
For individuals who are not domiciled in the Cayman Islands but personally own assets situated in Cayman Islands, they may have a separate Will governed by Cayman Islands law to dispose of such assets to facilitate the later probate process. Under Cayman Islands law, the applicable law for both the formal validity and essential/material validity of a Will of a foreign domiciled person depends on the nature of the assets. For immovable property situated in the Cayman Islands, the applicable law is lex situs, meaning that of the Cayman Islands. For movable property, such as cash in bank or shares in Cayman Islands companies (including Cayman Islands exempted companies), the applicable law is the law of the last domicile of the deceased. It is important to note that not all shares in Cayman Islands are situated in Cayman Islands. For shares in Cayman Islands companies listed on a foreign exchange, such shares are situated where the exchange is located. For example, if a person is holding shares in a Cayman Islands company which is listed on Hong Kong Stock Exchange and such shares are registered on the register of members of such company in Hong Kong, the situs
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