Termination of Cayman vehicles and CIMA director registration renewals and cancellations

As the end of the calendar year approaches, if you have any Cayman vehicles that you are considering terminating, there are several steps to be taken before the end of the calendar year to minimise 2023 annual fees.

Also please take care to note that for funds regulated by Cayman Islands Monetary Authority (CIMA), the timing of de-registration submissions of the regulatory policy has recently been amended, leading to the change of procedures for terminating funds.


Voluntary liquidation is the safest and most administratively clean termination process, while strike off is the quickest termination process with potential risk of future liability or claims. See more information about termination of Cayman companies here.

Director registration and licensing

Under the Directors Registration and Licensing Act (Revised) (DRLA), a director of a “covered entity” under the Securities Investment Business Act, must be registered with CIMA under the DRLA.  A covered entity includes most categories of fund.


To prevent 2023 CIMA fees, a mutual fund or a private fund must complete all de-registration obligations before 31 December 2022 prior submitting their formal de-registration application by that date.

Renewal of the registration

  • Renewal fees must be paid if, as at 1 January 2023, you remain appointed as a director of a covered entity for some or all of 2023. 

How to renew?

  1. Log on to CIMA’s portal by using the login credentials previously supplied to you on registration
  2. Follow the instructions to make your payment

Cancellation of the registration

  • In order to avoid renewal and payment of fees, your registration must be cancelled on or before 31 December 2022.

How to cancel?

  1. Log on to CIMA’s portal by using the login credentials previously supplied to you on registration
  2. Select “manage Directorships” and follow the instructions to remove the director
  3. Once payment of the de-registration fee has been made, select “surrender” and confirm that:
    • The director has resigned from all covered entities;
    • The director no longer plans to act as director on covered entities; and
    • If the director would like to act on any other covered entity or wish to resume directorship services in the future, the director will need to re-apply for registration.

Should you be considering terminating your Cayman entity, please contact your usual Marbury advisor or info@marburys.com for further information.