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jslade


Total Posts: 1132
Joined: Feb 2007
 
Posted: 2017-12-16 06:21
Pretty simple question: who knows what they're doing on Cayman with respect to setting up a vehicle for a half dozen US investors (aka I want them to have partnerships with US lawyers, accountants and trustees if I need one) -probably something closed end, definitely not tradeable. I've talked to a couple people over there, and they all tell me a different story. One of them looks like they know what they're doing, but I want a second opinion.

"Learning, n. The kind of ignorance distinguishing the studious."

HitmanH


Total Posts: 459
Joined: Apr 2005
 
Posted: 2017-12-16 11:48
Maples & Calder are the best I've worked with over there.
Not done anything closed end though, but have been involved in >30 structures there, using 4-5 different Cayman law firms, and Maples are the best
Others worth a mention are Carey Olsen. Walkers and Mourant were good firms, but don't seem to see them much now

Tradenator


Total Posts: 1592
Joined: Sep 2006
 
Posted: 2017-12-16 17:44
As a firm, Maples & Calder. I think the others depend more on the specific person than the firm. I've been pretty happy with some tech IP work that Carey Olsen did for me, but haven't used them for a fund structure. Collas Crill were decent on an open ended Guernsey fund structure for me and they seem to be doing well lately in litigation, but I can't say for Cayman work. Mourants and Ogier should be considered too.

Maples & Calder understood the US issues when I last used them, while the others I mentioned might be better for non-US.

Ideally, you want to use them all so that the good ones cannot work against you in any dispute due to conflicts of having you on their books. :)

jslade


Total Posts: 1132
Joined: Feb 2007
 
Posted: 2017-12-17 21:55
I actually spoke to M&P and Carey Olsen (and a bunch more) while I was there last -to be honest, was trying to decide between them. Thank you very much guys; this is a big help to me and my partners. Glad to know others have had good experiences.

"Learning, n. The kind of ignorance distinguishing the studious."

TSWP


Total Posts: 396
Joined: May 2012
 
Posted: 2017-12-18 09:02
jslade: did you speak to Ian Gobin at Harneys?

NeroTulip


Total Posts: 1013
Joined: May 2004
 
Posted: 2017-12-21 07:14
I second Maples & Calder, and had good work done by Wlakers.

If you only have US investors, why set up in Cayman?

"Earth: some bacteria and basic life forms, no sign of intelligent life" (Message from a type III civilization probe sent to the solar system circa 2016)

jslade


Total Posts: 1132
Joined: Feb 2007
 
Posted: 2017-12-21 20:28
There was some accounting gimmickry I was hoping would fly if it was done in Cayman (it's not a problem with Cayman law and is done by the Googles and Microsofts of the world); the growing consensus seems to be the IRS is not impressed with this sort of thing unless you're Google or Microsoft. Anyway, should I want to take non-US monies some day, I know where to go.

(Edit add: I also have residency there; longer term it's a decent citizenship to have)

"Learning, n. The kind of ignorance distinguishing the studious."
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