The payment of advance annual fee payments will now be prohibited in the Cayman Islands effective August 1, 2016. The announcement made by the General Registry of the Cayman Islands requires that all trademark and patent annual fee payments are to be made on or after January 1st of the year in which they are due. A penalty will continue to apply for fees paid after March 31st. Prior to this decree it was commonplace to pay annuities ahead of time, sometimes years in advance or up to the next renewal date. This option will no longer be allowed after August 1, 2016. Prepayment of annuities will be accepted up until the end of July 2016.