By Elana Margulies-Snyderman
The Cayman Islands recently enacted legislative changes (which EisnerAmper previously reported on) to enhance the oversight of smaller open-ended mutual funds (previously exempted due to having less than 15 investors) as well as closed-ended funds (private equity funds) to boost best practices and strengthen investor confidence. EisnerAmper Cayman affiliate EisnerAmper Governance Services Ltd. (EA Governance) can be instrumental in providing governance services that clients might require for an offshore entity allowing clients to focus on investment management.
Given the conflict of interest between governance and audit, solely non-attest clients would be able to take advantage of EA Governance, which is regulated under the Cayman Islands Monetary Authority.
Some of EA Governance offerings include:
-Providing clients with Independent Board Directors, Managing Members, Independent Fund Representatives, and Members for Investment Advisory, Limited Partnership Advisory and Conflict Advisory Committees.
-Company management consisting of registered office services, board secretarial services, along with general advisory and consulting services; and also providing adequate office space for a client’s Cayman entity, along with qualified full-time employees and professional directors to manage the Cayman entity.
-International tax compliance services such as helping clients determine the best way to meet their requirements of tax regimes and make the required filings under FATCA/CRS.
-Cayman Anti-Money Laundering (AML) Compliance, providing dedicated professionals to help clients meet their compliance needs and regulatory requirements.
Please contact your legal advisor for guidance.