Ministry Increases Efficiency During COVID-19 Pandemic

Ministry Increases Efficiency During COVID-19 Pandemic

The Ministry of Financial Services and its related entities have instituted a number of changes to increase efficiency of its operations to better support the work of the financial services industry in the midst of the coronavirus (COVID-19) pandemic. Most of the...
Government Proposes Framework for Virtual Asset Service Providers

Government Proposes Framework for Virtual Asset Service Providers

The Cayman Islands Government has taken significant steps to advance the financial technology capabilities of the jurisdiction through proposed legislation pertaining to virtual asset service providers. The Virtual Asset (Service Providers) Bill, 2020; the Monetary...
CRS Deadline Extended

CRS Deadline Extended

The Department for International Tax Cooperation (DITC) advises industry that the reporting deadline for CRS filings has been extended to 16 November 2020. As the global outbreak of the COVID-19 virus is likely to affect financial institutions (FIs) and competent...
Deadline for Entity Changes Extended, Annual Fee Penalty Clarified

Deadline for Entity Changes Extended, Annual Fee Penalty Clarified

Industry is advised that the Registrar of Companies has extended the deadline for entity changes and clarified the penalty in effect for late payment of annual fees. Entity Changes Persons have until 31 May to submit late filings, without incurring penalties, for...
Beneficial Ownership Filings Extended to Capture New Definition

Beneficial Ownership Filings Extended to Capture New Definition

Industry is advised that the deadline for beneficial ownership (BO) filings has been further extended to 15 May, with submissions needing to capture the new legal definition for BO. BO filings, previously due Monday, 20 April, can be submitted electronically via the...