The Cayman Islands Tax Information Authority recently issued further updates on the compliance obligations of Cayman financial institutions under the Cayman Islands legislation implementing the Common Reporting Standard (CRS), US FATCA, UK CDOT and the European Union Savings Directive.
The vast majority of Cayman Islands investment funds will be classified as Cayman Reporting Financial Institutions under the Cayman Islands automatic exchange of information (AEOI) legislation and so have notification, reporting and other ongoing obligations, as we detailed in our earlier alert.
This update sets out key dates and developments that have changed since then.
At Harneys we have a dedicated team of FATCA and CRS specialists who can help advise on your compliance with these obligations. In addition, we can also provide registration, reporting and principal point of contact and change notifier services.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.