On June 10, 2011, Cayman Islands Premier and Finance Minister McKeeva Bush proposed a revenue-generating measure to require certain Cayman-domiciled "master funds" to register with the Cayman Islands Monetary Authority (CIMA). These funds would be required to pay an annual fee of CI$1,500 (~US$1,850). Currently, such funds do not pay any fees and are not regulated by CIMA. Premier Bush's proposal will be subject to consideration by the Cayman Islands legislature. Please check back for further updates.
For the full text of Premier Bush’s speech, please click here.