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Cayman Islands: Cayman Islands AEOI Update – Second Tranche of CRS Regulations Released

Article by Roman Ipfling and Kevin A. Phillip DMS Offshore Investment Services From Mondaq The Cayman Islands Government issued the second tranche of the Common Reporting Standard (“CRS”) regulations at the end of December 2016. Updated Guidance Notes will be…

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Switzerland: Regularization of undisclosed assets In Switzerland and South Africa – transparency on the horizon

Article by Urs Feller, Danielle Wenger and Marcel Frey From Prager Dreifuss Introduction The Organization for Economic Co-operation and Development (“OECD”) Standard for Automatic Exchange of Financial Account Information in Tax Matters, which encompasses the Common Report- ing Standards (“CRS”),…

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Common reporting standard: Implementation in Asia

From DMS The Common Reporting Standard (“CRS”) is an internationally agreed standard for automatic exchange of financial account information (“AEOI”) on financial account information, endorsed by the OECD and the Global Forum for Transparency and Exchange of Information for Tax…

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Private Equity in the Cayman Islands

From Harneys Overview Fund vehicle options Exempted limited partnerships Limited liability companies Exempted companies General Establishment All of the above entities can be established on an expedited basis and no governmental or regulatory approvals are required. Taxation of vehicles All…

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Bahamas denies ‘go-slow’ approach to tax data sharing

By K. Quincy Parker Nassau Guardian Business Editor From Caribbean News Now NASSAU, Bahamas — The Bahamas has rejected outright an attack by UK publication The Economist, which claims The Bahamas’ choice to implement automatic exchange of information (AEOI) through bilateral…

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Cayman Islands further extends US/UK FATCA deadline

From DMS The Cayman Islands Department of International Tax Cooperation (DITC) has  again extended the notification and reporting deadlines for both UK CDOT and US FATCA. Notifications and reports are now due by Friday, September 2, 2016. There will be…

Antigua-Barbuda freezes assets of offshore bank implicated in massive corruption scheme

From Caribbean News Now ST JOHN’S, Antigua — The Office of National Drug and Money Laundering Control Policy (ONDCP) and the Financial Services Regulatory Commission (FSRC) in Antigua and Barbuda have frozen the accounts of a Brazilian-owned offshore bank that…

Cayman Islands Automatic Exchange of Information Update – April 2016

By Tim Clipstone, Christopher Capewell, Tim Dawson, Tim Frawley, Patrick Head, Martin Livingston, Alasdair Robertson, Tahir Jawed, Andrew Quinn, Richard Grasby, Harjit Kaur, Michael Gagie From Maples Unless otherwise stated, capitalised terms used herein shall have the meaning given to them…

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Cayman Islands FATCA/CRS Compliance Deadlines (2016)

By The Foley Adviser From FoleyHoag 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 regimes are similar, each…

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Cayman Islands extends 2016 deadlines for FATCA reporting and notification

From Simmons & Simmons elixica The Cayman Islands is extending the Foreign Account Tax Compliance Act (FATCA) reporting and notification deadlines for 2016. Submitted 13 April 2016 Applicable Law UK, USA, Cayman Islands Topic Tax Asset Management Investment Bank Regulatory…