Cayman Islands

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Conyers Dill & Pearman - Alert - Cayman Islands AEOI Portal Update - 2018

The statutory deadline for filing CRS and US FATCA reports for the 2017 year of account was 31 May 2018. Notwithstanding this statutory deadline, the Department for International Tax Cooperation (the “DITC”) has issued an industry advisory confirming tha ...

Resource Article - twallace@abiwor... - 06/13/2018 - 10:48 - 0 comments - 0 attachments

Conyers Dill & Pearman - Alert - Looming Deadlines in the Cayman Islands: Are you in Compliance?

As a reminder, we have recently issued a variety of updates and alerts highlighting some of the key regulatory changes here in the Cayman Islands. A number of these regulatory updates have significant penalties for non-compliance and the compliance deadl ...

Resource Article - twallace@abiwor... - 06/01/2018 - 10:12 - 0 comments - 0 attachments

Recent Judgment of the Cayman Islands Court of Appeal Concerning Validation Orders

In the recent decision of Aurora Funds Management Limited et al -v- Torchlight GP Limited the Cayman Islands Court of Appeal dismissed an appeal brought in respect of an order made by McMillan J in the Grand Court validating certain payments made by Torc ...

Resource Article - twallace@abiwor... - 06/01/2018 - 10:03 - 0 comments - 0 attachments

Cayman Islands Country-by-Country Update

Further to Alert issued in January 2018 the Tax Information Authority of the Cayman Islands (“TIA”) has now issued Guidance in respect of the Country-by-Country Reporting requirements (“CbCR”).1 CbCR requires every entity that is “resident in the ...

Resource Article - twallace@abiwor... - 06/01/2018 - 09:59 - 0 comments - 0 attachments

Cayman Islands Monetary Authority Issues a Statement on Virtual Currencies

On 23 April 2018, the Cayman Islands Monetary Authority (“CIMA”) released a public advisory on virtual currencies to warn of the risks associated with investments in initial coin offerings (“ICOs”) and virtual currencies and which set out some of the red ...

Resource Article - twallace@abiwor... - 05/08/2018 - 14:24 - 0 comments - 0 attachments

Cayman Islands AML Requirements

Further to our updates issued in October 2017 and February 2018, the Cayman Islands has updated and consolidated a number of its laws on the prevention of money laundering (“AML”) and the countering of terrorist financing (“CTF”). The current Cayman ...

Resource Article - twallace@abiwor... - 05/08/2018 - 13:39 - 0 comments - 0 attachments

Cayman Islands Beneficial Ownership Regime Update

Since our Cayman Islands Beneficial Ownership Regime Alert in May 2017, the Cayman Islands Government has amended the beneficial ownership regime under the Companies (Amendment) (No. 2) Law, 2017 and the Limited Liability Companies (Amendment) (No.3) Law ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:23 - 0 comments - 0 attachments

Appealing Appraisal Actions: New Judgments from the Cayman Courts

A well-known and now widely used part of local legislation, Section 238(8) of the Cayman Islands Companies Law (the “Companies Law”), entitles a shareholder who dissents from a merger or consolidation of a Cayman company under the statutory merger provis ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:16 - 0 comments - 0 attachments

Conyers Expands Corporate Practice in Cayman with Partner Hire

Conyers Dill & Pearman is pleased to announce the appointment of Derek Stenson as a Partner in the Cayman Islands Corporate practice. Derek has particular expertise in insurance, reinsurance and structured products. He brings with him a wealth of exp ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:11 - 0 comments - 0 attachments

US FATCA and CRS Update

The Department of International Tax Cooperation ("DITC") has issued an industry advisory confirming that the Automatic Exchange of Information Portal ("AEOI Portal") has reopened with revised documentation. AEOI Portal Open with ...

Resource Article - twallace@abiwor... - 05/08/2018 - 11:02 - 0 comments - 0 attachments

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