Cayman Islands trust law is based on the Trust Law 1967, itself very similar to the English Trustee Act 1925. However, there has been considerable subsequent legislation which has distanced Cayman trust law from its English origins. In particular, Cayman has chosen, unlike England, not to adopt the Hague Convention, preferring to maintain the flexibility to set its own path. Trust Management has been a major activity in the Cayman Islands for 30 years or more, and trust assets in Cayman now equal or exceed banking assets.

Key Features

Cayman Islands  International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

English Trustee Act 1925

  • Legal Framework

Cayman Islands Trust Law 1967

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

150 years

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Cayman Islands

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Cayman Islands

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in Cayman Islands

  • Jurisdiction

Cayman Islands  Supreme Court

  • Forced heirship applicable
No

Trust asset

  • Restriction on type/amount

No, except property situated Cayman Islands

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No