What is Cayman Fund？

The Cayman Islands is a leading global center for the establishment and domiciling of a wide range of investment funds and vehicles. It has a well-developed regulatory framework overseen by CIMA. The jurisdiction

• offers various fund structures, including mutual funds, hedge funds, private equity funds, and real estate investment funds;
• is a tax-neutral jurisdiction, making it an attractive location for international investors and fund managers seeking to minimize their tax liabilities;
• provides a high level of investor protection, with requirements for disclosure, custody arrangements, and other safeguards; and
• offers a flexible and robust legal framework for the establishment and operation of investment funds.

Major Audit Requirements and Deadline

All CIMA-registered investment funds are required to have their financial statements audited by a CIMA-approved auditor for the first financial period and annually. The fund’s approved auditor has to file the audited financial statements and the associated fund annual return to CIMA within six months of the fund’s financial year end via the online portal for electronic submission of CIMA, i.e. Regulatory Enhanced Electronic Forms Submission (REEFS).

Our work related to CIMA-approved Auditor

By partnering with CIMA-approved auditors, WALL can better navigate the Cayman Islands’ regulatory environment and ensure a smooth and efficient audit.

Why Choose WALL?

Our familiarity with the Cayman Islands’ regulatory requirements, coupled with the CIMA-approved auditor’s deep understanding of the local regulations, can help ensure the investment fund’s compliance with all applicable rules and guidelines. The partnership between WALL and the CIMA-approved auditor allows WALL to coordinate the audit activities more effectively, ensuring a cohesive and integrated approach. The streamlined audit process will enhance the overall quality of the audit and result in cost savings.