The number of Cayman Islands funds authorised in the city has fallen 30% this year against a rise in HK-domiciled funds. Retail structured product volumes have also dropped heavily.
Tag : cayman islands
Rules requiring firms with alternative funds structured in UK overseas territories to comply with tax reporting will be enforced next year, but have largely flown under the radar.
The recent Cayman-US tax agreement has sparked a rush of Asian managers seeking to register as Fatca-compliant, says PwC's Angelica Kwan – but they need to be ready first.
The British Virgin Islands' new office in Hong Kong will field a rising number of enquiries about BVI trust structures. But it may not find it easy to take funds business from the Cayman Islands.
The move is set to lighten the compliance burden for asset managers domiciling funds in the Cayman Islands, an offshore jurisdiction popular among Asian firms.
The Cayman Islands regulator may water down its plan to cap the number of fund board directorships, but the issue is getting less play in Asia than in the West.
