There is no statutory codification in the Cayman Islands of the general duties, obligations and liabilities owed by directors to Cayman companies and the general duties are based on a combination of English common law,...more
In March 2014, the British Virgin Islands Government announced that it had concluded negotiations with the US with respect to a Model 1B Intergovernmental Agreement with the United States (the IGA). The IGA (which was...more
On 2 July 2014 the Cayman Islands government passed into law substantial revisions to its exempted limited partnership legislation in the form of the Exempted Limited Partnership Law, 2014 (the New ELP Law).
Both jurisdictions also pledge to sign up to “UK FATCA” -
The US Foreign Account Tax Compliance Act, commonly referred to as FATCA, became effective earlier this year, and foreign financial institutions (“FFIs”) in...more