During the July 2024 parliamentary session in the Cayman Islands, the Perpetuities (Amendment) Bill 2024 successfully passed its second reading...
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Maroc - HARNEYS.COM - A La Une - 09/Sep 18:16
Perpetuities (Amendment) Bill 2024 moves forward in Cayman Islands parliament
During the July 2024 parliamentary session in the Cayman Islands, the Perpetuities (Amendment) Bill 2024 successfully passed its second reading without amendments and is now set for a third reading. This significant legislative development aims to modernise the Perpetuities Act (1999 Revision) by providing greater flexibility for trusts that do not involve Cayman land, aligning the jurisdiction with other leading financial services centres that have already abolished the rule against perpetuities. Currently, for Cayman Islands trusts other than STAR Trusts, the maximum perpetuity period is 150 years.
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