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The Cayman Islands Limited Liability Companies Law, 2016 (the “LLC Law”) has now been enacted and will be brought into force by a separate commencement order which is expected to be published later this month. Once in force, the Cayman Islands will offer a new form of corporate vehicle, the Limited Liability Company (“LLC”). The LLC will be a hybrid vehicle combining many of the key characteristics of existing Cayman Islands companies and limited partnerships. The LLC is expected to be particularly attractive to sponsors and promoters from the US looking for a vehicle that is closely aligned with the Delaware limited liability company.
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The Cayman Islands Introduces Limited Liability Companies