The Non-Profit Organisations Law, 2017 (the Law) was enacted by the Cayman Islands Legislature on 5 May 2017 following many years of political discussion and industry consultation over its form. An Order of Cabinet was gazetted recently to bring the Law into force effective 1 August 2017.
The Law provides for the establishment of a new system of registration to deal with the regulation and monitoring of all non-profit organisations (NPOs) which solicit contributions from the general public in the Cayman Islands. It represents the Cayman Islands' government's response to Recommendation 8 of the Financial Action Task Force (FATF) which requires that laws and regulations governing NPOs be reviewed in order to combat abuse of these organisations for the purposes of financing terrorist activities.
Click below to read more. Feel free to get in touch with your usual Appleby contact for further details.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
