CAYMAN FINANCE NEWS

Cayman Islands Financial Services Industry shows its resilience during COVID-19 National Measures March 27, 2020 - The Cayman Islands Financial Services Industry continues to provide tremendous value as the main economic driver of the Cayman Islands economy.  Industry firms, Government and the regulator have implemented their business continuity plans to enable employees to work remotely from home and continue providing business services as usual across the industry during the extended curfew measures that have been put in place locally.  “By taking the necessary steps to ensure […]
Cayman Finance Response to Tax Justice Network Financial Secrecy Index 2020 February 19, 2020 - 19 February 2020 The Tax Justice Network (TJN) is once again publishing misleading and inaccurate information about the Cayman Islands and appears to be more focused on entertainment than reality. Its scoring skews results whereby successful financial centres are artificially pushed up the ranking. The Cayman Islands would not be highly ranked on any secrecy index that is objective, transparent, […]
Cayman’s financial services industry supports Government’s efforts to be delisted by the EU February 18, 2020 - Cayman Finance fully supports actions being taken by the Cayman Islands Government to constructively engage with European Union officials with an aim to reverse an EU decision to include the jurisdiction on a list of non-cooperative jurisdictions for tax purposes. “The Cayman Islands has had a track record of meeting evolving global standards and that is expected to continue,” said […]
Cayman Finance Statement on Mutual Funds Law (2020 Revision) and Private Funds Law 2020 February 11, 2020 - We are pleased to have the world’s top clients and professional services firms doing business through the Cayman Islands and we wanted to update interested parties on important enhancements to the Cayman Islands Investment Funds Regime. The Cayman Islands is the leading international domicile for global investment funds, both open-ended and closed-ended investment funds. The Cayman Islands investment fund is the global collective investment […]
Online AML Learning Platform Now Available for Industry February 6, 2020 - The Cayman Islands Government, with support from Cayman Finance, has developed online learning modules relating to anti-money laundering, countering terrorist financing, and countering proliferation financing (AML/CTF/CPF). These free, self-paced, on-demand lessons are available for persons in the financial services industry and in designated non-financial businesses and professions, such as lawyers and realtors. The objective is to reinforce Cayman’s effective practice […]

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CAYMAN NEWS

Extensions Given for Annual Returns and Economic Substance Notifications March 27, 2020 - The Registrar of Companies (ROC) and the Department for International Tax Cooperation (DITC) have extended the deadlines for entities to complete their annual returns and economic substance notification filings. The annual return filing deadline has been extended until 30 June. The extension will apply to all companies, including limited liability companies and foundation companies. Penalties for failure to file will […]
DITC Activates Business Continuity Plan March 18, 2020 - The Department for International Tax Cooperation (DITC) is following Cayman Islands Government policy and activating its business continuity plan during the coronavirus (COVID-19) pandemic. As a result, the DITC expects to maintain its operational frameworks and international obligations. Confidentiality and data safeguards remain critical for DITC functions and strict security measures will continue to apply to all remote working. The […]
Ministry Maintains Functionality During COVID-19 Pandemic March 18, 2020 - The Ministry of Financial Services is instituting its business continuity plan to minimise staff risk and maintain the confidence of the financial services industry in the midst of the coronavirus (COVID-19) pandemic. In accordance with wider Cayman Islands Government policy, the Ministry is utilising remote working capabilities and a shift-based approach to working hours for staff. The creation of necessary […]

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