UK FATCA and Cayman Funds
Article by Martin Livingston, Jon Fowler, Tim Frawley, Alasdair Robertson and Richard D. Grasby From Maples As noted in our prior update of 19 November 2013, the Cayman Islands government signed an intergovernmental agreement with the United Kingdom (the “UK…
FATCA is here but are systems fit for purpose?
The introduction of additional layers of complex regulation has led to financial institutions deploying a variety of systems to deal with new processes and procedures in order to remain compliant. In the article below, Chris Eaton of Blue Bison Software…
Obama cracking down on tax cheats
By Jonah Bennett From Daily Caller Arriving 18 months late on the scene, the Foreign Account Tax Compliance Act (FATCA) came into effect this week in an effort to crack down on tax dodgers funneling money outside the country, the…
iNews Briefs
Cayman Islands Real Estate Brokers Association (CIREBA) build the fund for veteran runner The above 6 marathon challenge to raise CI$1 million to build a new ‘in-patient’ Hospice facility took another leap forward with CIREBA pledging $100,000 this week. President…
FATCA and IGAs: What it means for the Cayman Islands financial services industry
Article by Anthony Fantasia and Amanda Kong Posted by Cayman Finance For those in the financial services industry, the US Foreign Account Tax Compliance Act (FATCA) is most certainly not news. The act, which was conceived in 2010 as part…
Technology, globalisation and a level playing field
By Gonzalo Jalles, CEO, Cayman Finance Capital has become extremely movable. Technology and that ability to move at costs and speeds not imaginable 30 years ago has facilitated the ability of capital allocators to constantly seek the best return for…
The Government crackdown on offshore tax dodging just got real
By Alan Pyke From Think Progress Over 77,000 separate foreign banks and financial firms will start sharing information on their American accountholders with the Internal Revenue Service (IRS) in cooperation with a major crackdown on offshore tax evasion, the Associated…
Cayman Islands – Draft FATCA guidance notes released for comments
The Cayman Islands on 12 May 2014 released a first draft of FATCA guidance notes concerning the compliance requirements of the intergovernmental agreement (IGA) between the Cayman Islands and the United States and between the Cayman Islands and the United…
Cayman Islands is the new Switzerland, but not the way you think
By Robert W Wood From Forbes Are the Cayman Islands The Next Offshore Target? The U.S. has cast its tax net far and wide, more a shotgun than a rifle shot. Mixing fishing and shooting metaphors seems appropriate to show…
Bahamas wants regional centre of excellence in financial services
From Caribbean Export Development Agency The creation of a regional centre of excellence in financial services is being touted as the way forward if the region is to face the challenges and volatility of the global world of financial services….
