Cayman Legislative Updates

The Cayman Islands Ministry of Financial Services and Commerce (the “Ministry”) is progressing amendments to the Trade and Business Licensing Act and the Local Companies Control Act to assist partnerships that are contemplating Limited Liability Partnership (“LLP”) conversions.

The Ministry will consult with the industry on the proposed legislative changes in Q3 2021.

Once the consultation is complete, the Ministry will collaborate with the Department of Commerce and Investment on guidance, which will also reflect input from the Registrar of Companies, and Workforce Opportunities and Residency Cayman. The guidance will be issued simultaneously, with the enactment of the legislation.

Separately, the Ministry is considering amending the Accountants Act (2020 Revision) to include LLPs in the definition of “firms of public accountants”. This will clarify that partnerships converting to LLPs will remain relevant firms and their registration with the Cayman Islands Institute of Professional Accountants will be continued.

Please do not hesitate to contact your relationship manager on the above matters if you have any queries.

Thank you for your attention to these matters.

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PORTCULLIS GROUP
www.portcullis.co

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開曼群島立法更新

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開曼群島財務金融服務暨商業部（「財金部」）正進行「貿易與事業執照許可法」及「國內公司控管法」的修正，以便協助擬轉換為有限責任合夥企業（「有限合夥企業」）的合夥企業。財金部將在2021年第三季就上述修法一事諮詢業界。

俟諮詢完成後，財金部將與商業投資局共同擬議導引細則內容，而導引細則將納 入 公 司 註 冊 處 及 開 曼 社 群 組 織 「 開 曼 人 力 機 會 與 住 處 （ Workforce Opportunities and Residency Cayman）」的意見。導引細則將於法律制定後同時公布。

另外，財金部正考慮修改會計師法（2020年修改版），將有限合夥企業納入「會計師事務所」的定義內。此舉將說明，轉換為有限合夥企業的合夥企業仍為相關事務所，且其向開曼群島專業會計室協會的註冊將持續。

若對上述事項有任何疑問，請洽詢 貴公司的關係經理。

感謝 貴公司對上述事項的關注。

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保得利集團
www.portcullis.co