The object of this Memorandum is to provide clients of Walkers with information on the process involving migration of limited liability companies to the Cayman Islands.

Migration to the Cayman Islands

Part 10 of the Limited Liability Companies Law (2018 Revision) of the Cayman Islands (the "LLC Law") permits any foreign entity (the "Applicant") to apply to the Registrar of Limited Liability Companies (the "Registrar") to be registered by way of continuation as a limited liability company ("LLC") in the Cayman Islands. A "foreign entity" means a foreign company or a body corporate or corporation of any kind with legal personality, statutory trust, common law trust, any unincorporated business (including a partnership, whether general or limited and whether or not with legal personality) formed, incorporated, created or that otherwise came into being under the laws of any jurisdiction outside the Cayman
Islands.