Cayman Islands Services

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Special Purpose Vehicle Management

DM can assist alternative fund and asset managers, financial institutions and capital market participants to establish and maintain special purpose vehicles (SPVs) across multiple jurisdictions including the Cayman Islands.

• Company formation
• Registered Office
• Board Support
• Directorships
• Mgmt Accounting and Financial Reporting
• Tax Reporting

Wind Down and Liquidation Services

When it’s time to wind down a fund that may have some assets remaining or have some complication on its balance sheet, DM provide end-to-end support to ensure a seamless and orderly wind down process:

• Regulatory Compliance – completion of all necessary filings and notifications to the relevant authorities such as the Cayman Registry and CIMA.
• Asset Liquidation – managing the orderly sale of fund assets to maximise value for investors
• Investor Communication – keeping investors informed throughout the wind down process with clear and transparent communication
• Distribution of Proceeds – calculating and distributing proceeds to investors in accordance with the fund’s governing documents
• Dissolution of Legal Entities – handling the formal dissolution of the fund’s legal entities, including filing necessary documentation with authorities

Private Client Services

DM Cayman work with high net worth individuals and family office clients to provide complete offshore structuring solutions

• Company Formation – company structuring advice and setup to suit your specific circumstances. We also help with opening bank accounts.
• Registered Office – Provide appropriate substance in Cayman as needed and act as a point of contact for any regulatory authorities
• Management Accounting – from basic bookkeeping to more complicated technical accounting advice
• Nominee Shareholder – You retain your full position as a beneficial owner while simultaneously enjoying confidentiality concerning your offshore company
• Tax Services – complete all regulatory tax reporting obligations for your company and assist with getting tax advise for other jurisdictions

Economic Substance Advice

At DM, we provide expert advice on economic substance legislation to help your business comply with Cayman regulatory requirements including:

• Regulatory Compliance – understanding and adhering to economic substance regulations
• Policy and Procedure Development – developing customised policies, assisting with implementation and providing training for your team
  
• Reporting and Documentation – including financial reporting, tax reporting and maintaining details records to demonstrate compliance with economic substance requirements
  
• Secondment services – part time employees with specific experience and office space (if required) to assist with certain functions depending on the operational requirements of the company
  
• Advisory Services – keeping you informed of regulation updates, advising on strategies to optimize compliance and operational efficiencies and identifying and mitigating risk associated with non-compliance

Cayman Funds Services

DM Cayman provide regulatory and operational support for your regulated fund in order to comply with all regulatory requirements, maintain robust governance frameworks, and deliver accurate financial reporting.  Our services are designed to help you navigate the complexities of the Cayman Islands’ regulatory environment with confidence.

• Fund Formation – work with local and onshore legal counsel to coordinate the formation and registration of the investment fund
• AML/KYC Compliance – Act as AML Officers for your fund and assist with drafting AML/KYC policies where required.
• Regulatory Compliance – including regulatory filings in compliance with CIMA’s standards, ongoing compliance monitoring and regulatory advisory services
• Directorships – experienced independent directors who help establish and maintain effective governance structures
• Financial Reporting – financial statement preparation, audit co-ordination and tax reporting services
  
• Board Support Services – organising regular board meetings and ensuring all governance and compliance requirements are met including meeting documentation and record keeping services
  
• Fractional CFO – experienced accountants to help fund managers navigate the day to day accounting of their management entity and oversee work done by the fund administrator.

VASP & Web3 Company
Accounting & Financial Reporting

At DM, we specialize in providing comprehensive accounting and financial reporting services tailored to the unique needs of Virtual Asset Service Providers (VASPs) and Web3 companies.  Our team are experienced in preparing management accounts using a mixture of on and off chain activity. Our expertise ensure that your business remains compliant, efficient and well-positioned for growth in the rapidly evolving digital asset landscape.

• Accounting Services – bookkeeping services using a combination of crypto subledger and traditional accounting software platforms
  
• Financial Reporting – preparation of financial statements under required accounting standards and audit co-ordination if required
  
• Compliance and Regulatory Support – preparing and submitting regulatory findings, managing tax reporting and compliance including handling the complexities of digital asset taxation and providing economic substance advice
  
• Advisory Services – strategic planning, risk management and tech stack implementation services

Contentious Directorships

• Experienced directors in taking control of difficult situations.
• Specialist knowledge of the Cayman Islands, offshore litigation and restructuring landscape.

We provide special situation directorship services to funds, holdings companies and other offshore vehicles faced with elements of distress. Often these situations are contentious with high value assets that can be illiquid. Such mandates often involve coming in alongside incumbent directors, taking the reins as replacement general partner through the incorporation of a new entity or replacing the entire board. Our directors are experienced in project managing lawyer relationships and cross-border litigation which is sometimes beyond the desire, experience and skill set of the in-office board of directors.

Insolvency and Restructuring

• Experienced insolvency practitioners who understand the offshore landscape and are realistic around fee structuring.
• Our insolvency practitioners have acted as official liquidators, voluntary liquidators, receivers and liquidating trustees.
• Expert in cross border asset recovery proceedings.

We provide experienced insolvency practitioners who are qualified and have acted as court appointed liquidators, receivers and trustees in the Cayman Islands and the Seychelles. Our IPs have over 17 years–experience in liquidating companies in the Cayman Islands, Delaware, Ireland, the British Virgin Islands, the Bahamas and Bermuda. 

Illiquid Asset and Special Situations

• Experienced and regulated by CIMA in the Cayman Islands to provide registered office services, AEOI / FATCA & CRS services, AML services.
• We can provide advice on how to deal with ageing or legacy “problem” assets. The DM team is highly experienced in offering offshore fund structuring and general corporate services to funds.
• We can take over from existing service providers who might be unwilling or reluctant to deal with contentious situations.

The offshore regulatory landscape has become an increasingly important pillar in good corporate governance and goes hand in hand with providing directorship and liquidation services. Our team of fund experts can provide general corporate services to offshore funds in need of assistance.

Non-Contentious Liquidations

• Experienced liquidators who understand the offshore landscape and are realistic around fee structuring.
• Understand the regulatory landscape in the Cayman Islands particularly with respect to regulatory obligations to CIMA under the Private Funds Act and the Mutual Funds Act as it relates to audit waiver applications.
• Our liquidation staff have acted as liquidators in multiple jurisdictions and can deal with cross-border situations and assets.

In less contentious and solvent situations we act as voluntary liquidators. Voluntary liquidations can be a cost effective and efficient way to hold assets, consolidate administration services (reduce costs), manage litigation and provide ongoing reporting to investors in the medium to long term to give them the comfort they need.

We prepare third party liquidator reports in lieu of audited accounts in accordance with CIMA’s license termination regulations and can assist generally with applying to CIMA for a waiver of audit obligations.

A voluntary liquidation can also assist in mediating disputes amongst shareholders. Voluntary liquidations can be single entity rapid wind downs or larger group structures with cross border entities and assets in several jurisdictions.