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...
The Ministry of Financial Services advises that The Companies (Amendment) Act 2015 will commence on 2 November 2015.
This amendment law, which was passed in the Legislative Assembly on 12 August 2015, extends the notification period for changes to the directors and officers of a company to within 60 days of the change, it also reduces the maximum penalty to US$600 per company for a breach of that obligation, and an aggregate penalty of US$3,000 where the same breach occurs in respect of five or more companies.