Cayman Islands AEOI Framework: FATCA, CRS and CARF

The Cayman Islands AEOI framework comprises three interconnected but legally distinct international tax transparency regimes: FATCA, the OECD Common Reporting Standard ("CRS"), including the forthcoming CRS 2.0 amendments, and the OECD Crypto-Asset Reporting Framework (CARF), now implemented into Cayman Islands law.

Together, these regimes establish a comprehensive compliance and reporting framework applicable to Cayman Islands financial institutions and certain crypto-asset service providers, with obligations relating to registration, due diligence, governance, data collection and annual reporting. The framework reflects the Cayman Islands’ continued alignment with evolving global tax transparency standards and increasing regulatory expectations surrounding financial and digital asset reporting.