Chris Humphries
Jonathan McLean
The Cayman Islands Monetary Authority (“CIMA”) has changed the application form for the registration of Virtual Asset Service Providers (VASPs) through the REEFS portal. Additionally, CIMA has issued an update to the Rule and Statement of...
Clients are reminded of the following important filing dates for Financial Institutions (FIs) under the CRS and FATCA Regime and Economic Substance regime filings with the Tax Information Authority in the Cayman Islands.
Additionally, clients are reminded to obtain the TIN(s) and DoB for Accounts by the end of the second calendar year following the year in which the Accounts were identified as Reportable Accounts. Read more on CRS Filings - FIs to Maintain DoB Information.
It is recommended to review the Updates Bulletin regularly, on the website for the Cayman Islands Department for International Tax Cooperation (DITC). The bulletin should be reviewed regularly by individuals and businesses that represent and/or advise entities which are subject to any legal framework administered by the Tax Information Authority.
| Regulatory Deadline: | Regulatory Filings: |
| 30 April 2024 | Registration |
| 31 July 2024 | CRS/FATCA Reporting |
| 31 July 2024 | CRS Compliance Form |
| 16 September 2024* | CRS Filing Declaration (Nil return) |
* Extended to 16 September (due to 15 September falling on a Sunday).
Renewals and cancellations should be made and paid for through CIMA’s portal by using the login credentials previously supplied upon registration.
Forms and Online Portal Access can be viewed on the DITC website.
The CRS has updated its Reportable Jurisdictions which can be viewed here.
Should you require any assistance with your obligations please contact your usual Stuarts attorney or get in touch with jon.mclean@stuartslaw.com.
