The LLC must have a written LLC agreement (LLC agreement) of the LLC member(s) on LLC`s activity or business. Although the LLC agreement may be concluded at any time before, after or at the time of submission of the registration declaration, if it is presented before the presentation of such a declaration, it is considered effective on the date of the registration certificate. Such an agreement may be called an LLC agreement, company agreement or otherwise. For this purpose, the registration statement may serve as an LLC agreement. Unlike a Delaware LLC agreement, a Cayman LLC agreement must be in writing and subject to Cayman Islands law. The effective date of the Cayman LLC Agreement shall be after the date of performance by the parties and shall not be deemed effective until the date of registration of the Cayman LLC. The parties to a Cayman LLC agreement may agree among themselves that the agreement will come into effect earlier, but this does not apply to third parties. Like a Delaware LLC agreement, a Cayman LLC agreement is not submitted to the registrant or made available to the public. Investment Feeder Fund: The Cayman LLC has a number of features that are well suited for offshore investment funds.

It is a legal person that has a legal personality separate from its members, it has the possibility to take legal action and be sued in its own name and it has the power and ability to acquire, hold and sell assets itself (unlike a Cayman LP). The LLC created a framework for Cayman LLCs to maximize operational flexibility through the terms of the LLC agreement. There are several reasons for this: (i) The use of Cayman LLC means having one unit instead of two businesses when a limited partnership is employed with its family doctor; (ii) The use of a Cayman LLC will be as flexible as a limited partnership structure and will therefore allow clients to coordinate investor rights between offshore investment funds and offshore investment funds in Master/Feeder structures. There must be at least one member of a Cayman LLC and it may be managed by some or all members or managers (see below for the position of investment funds registered under the Investment Funds Act). Unlike the standard position of a Delaware LLC, where members govern by a majority of shares, the default position under Cayman LLC is that the management of a Cayman LLC is entrusted to its members who trade at the majority of numbers…