May 7, 2021

Cayman Islands survey reveals most prepared for FACTA

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A recent survey carried out on 105 respondents from the financial services industry suggested that most are well prepared for the FATCA regime in the Cayman Islands. The survey was carried out by local consulting firm FTS during the period March 9th to 19th and provided some interesting insights into how those working in the […]

Private Funds, the Cayman Islands IGA and FACTA

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By Simon Riveles and Simon M. Cooke. From Riveles Law Group On November 29, 2013, the Cayman Islands signed a FACTA Model 1 intergovernmental agreement (“IGA”) with the United States. The IGA ensures that financial institutions located in the Caymans, whose investors include ‘Specified U.S. Persons’ (defined below), will be able to largely bypass the […]

The Editor Speaks: UK’s ‘beneficial ownership’ plan attacked

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It is not surprising that the Cayman Islands Law Society and the Chamber of Commerce have both made public their opposition to the United Kingdom’s proposals to make public the list of individuals or companies that benefit from registered financial entities in its territories that include the Cayman Islands. Last year, UK’s Prime Minister David […]