Setting up a fund in the sun

In recent years, the Cayman Islands has established itself as a premier offshore jurisdiction for fund domicile.

The ethos of the jurisdiction is to provide a sound legal framework ' based on English law but with significant amendments often by way of simplification ' and a sensible regulatory regime to underpin investor confidence but without excessive bureaucracy.

There are three primary structures for funds: corporate vehicles, unit trusts and limited partnerships.

Each of these structures