New revision of trusts legislation in Cayman

The Trusts Law (2017 Revision) (2017 Revision) was gazetted on 31 May 2017. The 2017 Revision is the first full revision of the Cayman Islands Trusts Law since its 2011 Revision (2011 Revision) and incorporates the Trusts (Amendment) Law 2016 (Amendment Law) which amended and modernised the 2011 Revision. 

Along with provisions addressing certain powers and the appointment and discharge of trustees, the Amendment Law introduced a number of retrospective provisions with the objective of correcting technical issues in the original legislation.

Overall, the changes incorporated in the 2017 Revision do not represent a major development in trusts law in Cayman; however the 2017 Revision maintains the Cayman Islands’ commitment to being at the forefront of pioneering and accessible offshore trusts legislation and ensures that it remains a leading jurisdiction for all forms of trust structures, both in the private client and commercial contexts.