New partnership registrations down 1.8%

The Cayman Islands registered close to 3,000 new partnerships in the first eight months of 2020.

Despite the coronavirus pandemic and lockdown measures during the second quarter of the year, the 2,969 partnership registrations between January and August were down only 1.8% compared to the same period in 2019, according to the Cayman Islands General Registry.

Compared to 2018, a record year during which more than 5,000 partnerships were registered, this year’s registrations are so far 14.8% lower.

However, 2020 figures are 18.8% higher than in the first eight months of 2017.

The number of active partnerships on the register continues to grow as there were only 856 partnership terminations to date.

As of March 2020, the latest reported consolidated figures, the registry counted 29,877 active partnerships – an increase of 11% compared to a year earlier.

Support local journalism. Subscribe to the all-access pass for the Cayman Compass.

Subscribe now