Partnership and company registrations set for record year
Cayman registered more partnerships in the first three quarters of 2021 than for the same period in any previous year, statistics released by the Cayman Islands General Registry show.
The 4,284 new partnerships set up through September were 27.5% higher year on year and 11.8% more than during the same nine-month period in 2018, the previous record year.
At the same time, 1,322 partnerships were terminated, but the number of active partnerships still reached a new high of 34,106 on the register.
The number of active partnerships in Cayman has grown every single year since 2011.
New company registrations are equally surging. During the first three quarters of this year, 12,848 companies were registered. Only the record-year of 2018 has exceeded this value with 12,967 companies created during the same period.
New company registrations for the year to date already exceed the full 12-month totals for every other year, except 2018.
During the first three quarters, while 6,855 companies were terminated, there was still a record total of 117,561 active Cayman companies registered at the end of September 2021, up from 111,568 at the end of 2020.
Both new trust registrations and trust terminations declined during the period, compared to previous years with only 59 formations and 33 dissolutions.
Last year, 123 new trusts were formed and 86 terminated.
Cayman’s funds registrations, meanwhile, continued to climb for the year to date. And statistics from the insurance sector also point to a successful year. In September, a total of 662 class A, B and C insurers were registered with CIMA – 10 more than at the end of last year.
Source: Cayman Compass
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