Key Considerations
If you are considering a voluntary liquidation but have concerns that an entity has blockers preventing closure, please get in touch. We have solutions to deal with a wide range of challenges faced during a wind-down, including illiquid assets, contingent creditors and the departure of a management team; we aim to ensure that matters are dealt with effectively and cost efficiently. Matters for consideration when determining earlier commencement include the payment of final distributions to shareholders, filing of final audited financial statements with the Cayman Islands Monetary Authority (CIMA) prior to the final meeting and any further reporting to the Cayman Islands Tax Authority required should the entity be in existence during 2020. With the increase in regulatory costs and requirements, we suggest that entities look at commencing their voluntary winding up as early as possible.Solutions
In order to avoid unnecessarily incurring annual registration fees in 2020, the following deadlines must be met:Description | Requirements | Deadline |
CIMA Registration Fees | All requirements for CIMA License under Liquidation status must be complied with on or before the deadline. | 31 December 2019 |
Cayman AEOI Regime | All requirements for voluntary liquidation must be complied with and final meetings held (companies) on or before the deadline. | 31 December 2019 |
Registrar of Companies & Exempted Limited Partnership Fees | All requirements for voluntary liquidation must be complied with and final meetings held (companies) on or before the deadline. | 31 January 2020 |
Our services
Insolvency |
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Contentious Fiduciary |
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Forensic & Advisory |
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Entity Closure |
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Experienced, multidisciplinary team
R&H Restructuring is a multidisciplinary team with offices in the Cayman Islands and British Virgin Islands, with a diverse range of experience and specialist skills. We are professionals whose expertise and innovative approaches will provide you with the best possible result. In addition to the Rawlinson & Hunter affiliation, their ongoing strategic international partnerships provides them with immediate access to resources for effectively servicing clients anywhere in the world. This expertise includes fund fiduciary, trust, corporate, accounting and fund administration professionals who hold relevant financial industry licenses in their respective jurisdictions, holding us to the highest of global regulatory standards. We regularly work with our colleagues in these affiliated companies to provide clients with a team tailored to their needs. As a strong, pragmatic partner, we not only add intellectual strength, but also the necessary insight to help provide decisive outcomes. Our clients are the direct beneficiaries of our group efficiency and communication. The flexibility to combine one or more service lines demonstrates our ability to deliver robust solutions to a diverse range of challenges and client needs.Local expertise, global reach
We are well placed in the offshore market as an experienced, independent practice with minimal conflicts of interest and strong local expertise combined with the global reach of the Rawlinson & Hunter network.-
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R&H Restructuring
As an affiliate of Rawlinson & Hunter in the Cayman Islands, we benefit from our relationship with the local and international grouping. In addition to the Rawlinson & Hunter affiliation, our ongoing strategic international partnerships provides us with immediate access to resources for effectively servicing clients anywhere in the world.
R&H Restructuring is an independent member of HLB the global advisory and accounting network. HLB is an independent and dynamic international, advisory and accounting network. Based upon quality and like minded membership, they have a history of innovation, collaboration and driving business growth for their members and their clients.