News & Analysis as of September 22, 2024

Foreign Account Tax Compliance Act › Cayman Islands

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The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +

Regulatory & Risk Advisory Review: Cayman Islands - April to June 2024

Conyers on 7/23/2024

Welcome to the second instalment of 2024 of the Regulatory & Risk Advisory Review. In this edition we cover several Cayman Islands regulatory updates including updates to the Beneficial Ownership Transparency Act, the...more

What can we learn from recent enforcement actions in the Cayman Islands?

Walkers on 8/7/2023

Walkers' regulatory partners Lucy Frew and Ian Mason consider the learning points for financial services providers (FSPs) from recent enforcement actions by Cayman regulatory bodies. While financial services and related...more

The DITC Issues Timely Compliance Reminders

Conyers on 4/22/2021

The Cayman Islands Department for International Tax Cooperation (DITC) recently issued reminders to industry of compliance obligations in accordance with Common Reporting Standard (CRS) requirements and for the purposes of...more

Important Dates and Reminders For Investment Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and Commodity Pool...

Foley Hoag LLP on 2/12/2021

INVESTMENT ADVISERS - Annual Compliance Reviews - All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level, are required to review their compliance policies and...more

United States “Beats” Switzerland as a Perceived Global Haven for Money Laundering and Tax Evasion

Ballard Spahr LLP on 2/21/2020

The Cayman Islands Receive “Top Honors.” But, Global Financial Transparency is Reportedly Improving in General - The United States has overtaken Switzerland as a financial secrecy haven, according to the latest rankings –...more

Important Dates and Reminders for Investment Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and Commodity Pool...

Foley Hoag LLP on 2/7/2020

Investment Advisers - ANNUAL COMPLIANCE REVIEWS - All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level are required to review their compliance policies and procedures...more

Cayman Islands FATCA/CRS Reporting Deadlines Extended

Foley Hoag LLP on 6/1/2018

On May 30, 2018, the Cayman Islands announced that 2017 FATCA and Common Reporting Standard (CRS) reporting obligations may be completed by July 31, 2018 without adverse consequences, enforcement measures or penalties....more

Cayman Islands FATCA/CRS Deadlines Extended Further

Foley Hoag LLP on 7/21/2017

On July 19, 2017, the Cayman Islands announced another extension of the filing deadline for 2016 FATCA and Common Reporting Standard (CRS) reports to August 31, 2017. The deadline for notification (registration) remains...more

Cayman Islands FATCA/CRS Deadlines Extended

Foley Hoag LLP on 6/27/2017

On June 22, 2017, the Cayman Islands extended deadlines relating to 2016 FATCA and Common Reporting Standard (CRS) compliance, as follows...more

FATCA and CRS: 2016 Year End Reminders and a Look Ahead to 2017

Foley Hoag LLP on 12/2/2016

As 2016 comes to a close, U.S. FATCA is almost fully phased-in, U.K. FATCA is being phased-out and the Common Reporting Standard (“CRS”) is nearing the first anniversary of its effective date. What began as a concept in 2010...more

Cayman Islands FATCA Compliance Deadlines Extended Again

Foley Hoag LLP on 8/9/2016

The Cayman Islands announced the further extension of the 2016 registration and reporting deadlines for U.S. FATCA and U.K. FATCA (also known as U.K. CDOT), as follows...more

Upcoming FATCA Deadlines

Foley Hoag LLP on 6/27/2016

As noted in the Foley Adviser dated April 14, 2016, there are several upcoming FATCA-related deadlines, two of which are right around the corner: ..June 30, 2016: Foreign Financial Institution Due Diligence for...more

Cayman Islands FATCA/CRS Compliance Deadlines (2016)

Foley Hoag LLP on 4/14/2016

Cayman Islands investment entities are currently subject to three separate regimes relating to financial account information reporting: U.S. FATCA, U.K. FATCA and the OECD Common Reporting Standard (CRS). Although these...more

Common Reporting Standard and FATCA

Foley Hoag LLP on 12/18/2015

2016 Compliance Update - For the past few years, FATCA has dominated the international tax compliance landscape. As that regime continues to be phased-in, a new regime – the Common Reporting Standard (“CRS”) – will begin...more

Cayman Islands FATCA Compliance Deadlines Extended Again

Foley Hoag LLP on 5/26/2015

The Cayman Islands announced the further extension of its FATCA registration and reporting deadlines, as follows... ...Cayman Islands investment entities that have been classified as “Reporting Cayman Islands Financial...more

Cayman Islands Extend FATCA Compliance Deadlines

Foley Hoag LLP on 5/13/2015

On May 11, 2015, the Cayman Islands announced the extension of its FATCA registration and reporting deadlines, as follows...more

FATCA Compliance Deadline Reminder – Cayman Islands

Foley Hoag LLP on 4/30/2015

Cayman Islands investment entities that have been classified as “Reporting Cayman Islands Financial Institutions” for purposes of FATCA should make every effort to enroll with the Cayman government by the April 30, 2015...more

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Foreign Account Tax Compliance Act › Cayman Islands

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