Noting that the Cayman Islands has been adjudged to have satisfactorily completed 60 of 63 recommended actions to strengthen its AML/CFT (anti-money laundering, combatting the financing of terrorism and proliferation) regime, the Financial Action Task Force (FATF) today (Thursday, 25 February 2021) has agreed that the country should be subject to increased monitoring.
Cayman’s international insurance industry was not immune to COVID-19’s impact on the global economy posted strong 2020 captive returns per the Cayman Islands Monetary Authority (CIMA)’s recently published 2020 captive statistics.
The Department for International Tax Cooperation (DITC) advises industry of the following updates related to the DITC Portal. 2019 CRS Compliance Form Deadline Extended The reporting deadline for the 2019 CRS Compliance Form is extended to 15 September 2021. The current function to submit the 2019 CRS Compliance Form remains open on the DITC Portal. …
The Cayman Islands Government acknowledges the progress made by the UK’s Overseas Territories (OTs) in regard to beneficial ownership and the UK’s decision to draft, but not enact, an Order in Council regarding the introduction of public registers of beneficial ownership (PRBO) information in the OTs. “By introducing publicly accessible registers of beneficial ownership, the …
Update on Public Registers of Beneficial Ownership Read More »
The Cayman Islands is a popular jurisdiction among Asian investors, especially Chinese companies, looking to structure their overseas businesses and cross-border transactions for tax efficiency. The regulatory regime there, and the presence of many of the world’s leading financial services, have established Cayman as a top jurisdiction for international investment funds. In recent years, the …
Progress to ensure the Cayman Islands anti-money laundering (AML), countering the financing of terrorism (CFT) and proliferation financing (CPF) regimes are compliant with international standards reached a significant milestone on Friday, 23 October 2020, as the Observation Period by the Financial Action Task Force (FATF) wrapped up. The Cayman Islands has been tasked with implementing …
Significant Achievements Reached by Cayman Islands in CFATF Assessment Efforts Read More »
The Maples Group recently made a donation of US$49,373 on behalf of its clients to the Cayman Islands Red Cross (“CIRC”), following a general appeal by the organisation for essential funding. In addition to a number of other charitable contributions, the CIRC donation is a continuation of the Group’s philanthropic efforts to support local organisations …
Maples Group’s Clients Donations Support Cayman Islands Red Cross General Appeal Read More »
Ogier has welcomed Tristanna Ebanks to its Articled Clerk programme. Before joining Ogier, Tristanna previously worked with a large international firm on island as a Vice President. There she specialised in liquidation services to a wide range of companies and limited partnerships including hedge funds, private equity funds and structured finance vehicles in the Cayman …
Ogier welcomes Tristanna Ebanks to its Articled Clerk programme in Cayman Read More »
The Cayman Islands Government will propose legislative changes relating to limited liability partnerships (LLPs), prior to the legislation becoming operational this year. The Limited Liability Partnership (Amendment) (No.2) Bill, 2020 and the Securities Investment Business (Amendment) (No.2) Bill, 2020 will be presented by the Minister of Financial Services, the Hon. Tara Rivers, at the Legislative Assembly, which begins its …
Government Proposes Legislation to Operationalise LLP Regime Read More »
The Cayman Islands has been named ‘Best Private Equity Fund Domicile’ at the 2020 Private Equity Wire US Awards. The awards, hosted by industry publication Private Equity Wire, were announced at a virtual ceremony on 8 October 2020. “The winners represent the best in the US private equity industry, from GPs to service providers, covering …
Cayman Islands named Best Private Equity Fund Domicile Read More »