BVI, Cayman in discussions with UK government

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The British Virgin Islands and the Cayman Islands are currently in dialog with the UK government on a number of issues related to the UK’s G8 economic agenda, including enhanced transparency and exchange of information for tax purposes. The ongoing discussions have been characterised on all sides as cooperative. Below are links to recent public statements which provide greater detail on the nature of the discussions.

  • British Virgin Islands Premier Dr. D. Orlando Smith on 25 April made a statement detailing the BVI’s position in its ongoing discussions with the United Kingdom.
  • Cayman Islands Premier Juliana O’Conner-Connolly summarised her Government’s position in this public letter to UK Prime Minister David Cameron on 25 April.

Both statements followed previous announcements in which BVI and Cayman agreed to enter into Model 1 FATCA agreements with the United States.
 
Harneys on behalf of our clients is carefully monitoring developments and will post further updates when they become available.
 
For more information please contact Global Managing Partner Peter Tarn (peter.tarn@harneys.com).


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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