FATCA and CRS reporting deadlines are fast approaching for Cayman Islands entities. Our latest article outlines who must report, what information is required, and key 2025 deadlines. Learn how to stay compliant and avoid enforcement action from the DITC.
Read the full guide to ensure your filings are accurate and on time.

A reminder that all regulated funds (including mutual, hedge and private funds) registered with the Cayman Islands Monetary Authority (CIMA) and with a financial year ending 31 December, must file their fund annual returns (FAR) and audited financial statements (AFS) for the 2024 financial year on or before 30 June 2025. For funds seeking an […]

In an era of increasing regulatory complexity and escalating compliance costs, fund managers seeking a jurisdiction that offers flexibility without compromising credibility may find the British Virgin Islands (BVI) Approved Manager regime to be an ideal solution. Recognised by the BVI Financial Services Commission (FSC), this light-touch framework provides emerging managers with an efficient and […]

In order to ensure compliance with the BVI’s anti-money laundering regime, Approved Managers are required to appoint a money laundering reporting officer (MLRO) and implement appropriate policies and procedures for adoption on an ongoing basis.

The Cayman Islands Government recently passed the Beneficial Ownership Transparency Regulations (2024) expanding the scope of the previous regime and now also now includes previously exempt investment fund vehicles.

Read our overview of the key updates here.

Scrutiny on offshore transactions and their participants is at an all-time high. Through an ever growing number of regulations and laws, parties to transactions and third party providers from banks to corporate service providers are required to gather and, in some circumstances, share information with governments and regulatory authorities.     For the underlying officers and […]

The Cayman Islands Monetary Authority’s (CIMA’s) Rule on Corporate Governance for Regulated Entities (Rule) and Statement of Guidance on Internal Controls for Regulated Entities (Guidance) comes into effect on 14 October 2023. The Rule and Guidance will replace the existing corporate governance regulatory measures. All CIMA regulated entities will be required to take action to ensure compliance.

Regulators are taking firm action again non-compliance with AML and CFT regulations as highlighted by these recent enforcement cases in Hong Kong and BVI.

Reminder to BVI companies on ongoing maintenance of accounting records and related official documentation detail

Under the BVI Companies Act (Revised) and the Mutual Legal Assistance (Tax Matters) Act (Revised) a BVI company and the registered agent are required to have knowledge of the location of accounting records and also the person responsible for the keeping of such records.

Furthermore, all BVI companies will be required to file an annual financial return with their registered agent to be retained for record-keeping purposes, commencing from their 2023 financial year. 

The Monetary Authority (Administrative Fines) (Amendment) Regulations, 2020 was enacted on 26 June 2020 extending the ability of the Cayman Islands Monetary Authority (CIMA) to impose significant fines.

It is now also an offence for knowingly or wilfully supplying false or misleading information to the Cayman Islands Tax Information Authority (TIA).