Keep up to date with the latest issues shaping the industry landscape across the world's major international finance centres with our thought-leadership series compiled by our in-house experts, as well as clients of and fellow advisers to our business.
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The Cayman Island Monetary Authority (“CIMA”) requires that all registered and licensed (“regulated”) and unregulated funds appoint a natural person, with the requisite knowledge and experience, to act as its Anti-Money Laundering Compliance Officer (“AMLCO”), Money Laundering Reporting Officer (“MLRO”), and Deputy Money Laundering Reporting Officer (“DMLRO”).
Where Cayman companies have naturally reached the end of their life cycle we recommend an early start to the dissolution process in order to avoid 2019 annual government, regulatory and service provider fees.
Kevin Smith, Director, Fund Services, explains why there are so many funds in Guernsey. To read the full article please click here.
Janita Burke and Sarah Demerling, Client Directors, analyse the state of play in the jurisdiction’s captive industry and explain the services Estera offers.
30th May 2018: The Cayman Islands Department for International Tax Cooperation (DITC) has extended the FATCA and CRS reporting deadline for financial institutions to complete their FATCA and CRS reporting up until 31st July 2018, without penalty, including late filing fees or compliance measures.
The Cayman Islands Government has now released their final updated reporting schema showing exactly what information needs to be filed with the Competent Authority. Even Companies that are exempt from maintaining a Beneficial Ownership Register (“register’) need to declare that they are exempt and state which exemption is relevant to them, this is now also reported to the Competent Authority.
In late 2017 the Cayman Islands issued an amended Proceeds of Crime Law (“AML LAW”), Anti-Money Laundering Regulations and updated AML Guidance Notes (together “the Cayman AML Rules”).
Within the capital markets, there remain a large number of customers who are looking for unique opportunities in alternative investments. One such area that is proving popular is a viable alternative to traditional markets is the insurance-linked securities (ILS) space, which, since the ’08 financial crash, has built significant traction among institutional investors keen to seek out yield in non-correlated assets.
The EU’s new General Data Protection Regulation (GDPR), which has been in the offing for years, will finally come into force in May this year, with the aim of unifying and strengthening data protection across Europe, and addressing the export of personal data outside the EU
As your Cayman fiduciary and administration service provider, we wish to notify you of a recent Industry Advisory, which was issued by the Cayman Islands Government Department for International Tax Cooperation, that affects Constituent Entities of Multi-National Enterprise Groups, namely the ‘Country-by-Country Reporting’.
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from our teams across the Estera group.