In response to global developments in financial services, the Cayman Islands Government today published three bills that further strengthen our compliance with international standards.
The bills are The Companies (Amendment) (No. 2) Bill, 2018; The Local Companies (Control) (Amendment) Bill, 2018; and The International Tax Co-Operation (Economic Substance) Bill, 2018.
They were produced following the Ministry of Financial Services’ in-depth consultation with Cayman’s local financial services industry, Cayman regulators, the OECD and the European Union. The Financial Services Ministry also joined the Ministry of Commerce to consult with Cayman’s commerce stakeholders.
‘Since January this year, many representatives from more than 15 financial services and commerce associations, as well as Government stakeholders outside of the Ministry of Financial Services, have participated in this consultation.
- OECD Global Forum Peer Review Phase 2 Report
- The Banker’s ‘Leader of Specialist International Financial Centres’ award.
- Captive Review ‘Offshore Domicile of the Year’ for captives
- Hedge Funds Review ‘Most Favoured Domicile’ for hedge funds