Cayman Foundation Companies - Fintech

The Foundation Companies Act, 2017 (the "Act") introduced another innovative and flexible vehicle in the Cayman Islands which can be used in a myriad of ways to assist clients with finding solutions to structuring issues. Foundation companies ("FCs") were initially introduced to meet the demands of clients located in civil law jurisdictions who were unaccustomed to traditional common law trust structures. The legislators responsible for drafting the Act certainly did not have the Fintech sector in mind when they were designing the FC. However, we have seen a number of clients in the Fintech space embrace the flexibility and adaptability of the FC and use it in a number of ways, including as a legal wrapper for decentralised autonomous organisations ("DAOs") .

 

Click to view memo


CAYMAN ISLANDS
Monique BhullarPartnerT +1 345 814 6838monique.bhullar@walkersglobal.com
Melissa LimPartnerT +1 345 814 4512melissa.lim@walkersglobal.com

DUBAI
Tom CochranePartnerT +971 4 363 7913tom.cochrane@walkersglobal.com
Tom HaggerSenior AssociateT +971 4 363 7950tom.hagger@walkersglobal.com

HONG KONG
James GadenPartnerT +852 2596 3433james.gaden@walkersglobal.com

LONDON
Matthew BloomfieldPartnerT +44 (0)20 7220 4986matthew.bloomfield@walkersglobal.com
Tatziana Paraguacuto-MaheoPartnerT +44 (0)20 7220 4991Tatziana.Paraguacuto@walkersglobal.com

SINGAPORE
James TwiggPartnerT +65 6603 1699 james.twigg@walkersglobal.com

Related Content