New Private Trust Company Regime in Cayman

Posted 23/09/2008 • Under Articles

NEW EXEMPTED PRIVATE TRUST COMPANY REGIME IN THE CAYMAN ISLANDS

The Cayman Islands have brought into force new regulations to exempt private trust companies from the trustee licensing requirement. Until now the Cayman Islands were the only leading offshore jurisdiction to require private trust companies to obtain a trust licence. A change has also been made to the STAR trust legislation to allow an exempted Cayman Islands private trust company to act as trustee of a STAR trust.