Economic Substance Services (Video)

On 24 July 2026, China's Ministry of Finance and State Taxation Administration jointly issued the Announcement on Individual Income Tax Matters Relating to Offshore Trusts (《财政部 税务总局关于离岸信托个人所 得税有关事项的公告》) (Announcement No. 21 of 2026) (the "Notice"), together with a companion Announcement of the State Taxation Administration on Collection and Administration Matters Relating to Individual Income Tax on Offshore Trusts...

The Beneficial Ownership Transparency (Legitimate Interest Access) Regulations, 2024 commenced on 28 February 2025.

The Cayman Islands Monetary Authority has introduced new enforceable Rules on anti-money laundering and sanctions compliance, effective September 18, 2026. These Rules transform previous guidance into directly enforceable requirements, establishing clear obligations for regulated entities including mandatory annual training for governing bodies, independent audit requirements, and enhanced AMLCO independence standards.

The Grand Court has awarded summary judgment to certain limited partners seeking true and full information from the general partner under section 22 of the Exempted Limited Partnership Act.

The Grand Court of the Cayman Islands recently delivered a judgment in In the matter of Pinnacle Global Partners Fund I LTD.

Version 3.0 of the Cayman Islands guidance notes ("Guidance") on the Cayman Islands' economic substance legislation provides additional assistance in interpreting the...

The Cayman Islands has introduced significant reforms to its business licensing framework, including the option for eligible Caymanian-owned businesses to obtain multi-year Trade and Business Licences valid for up to five years, alongside revised fee structures across professional services, real estate, and property development sectors.

As 2026 draws to a close, Cayman Islands entities nearing the end of their lifecycle should prepare for voluntary liquidation and dissolution. Understanding the critical year-end deadlines...

In this month's Cayman Islands Regulatory 15/15 episode, Chris Capewell, John Dykstra and Ellen O'Brien discuss reinsurance updates, CRS compliance obligations, new AML return requirements for regulated trust companies, CIMA's updated List of Approved Stock Exchanges and recent CIMA notices relating to struck-off entities and non-compliant directors.

Under the Cayman Islands Directors Registration and Licensing Act (the “Act”), anyone named a director of certain entities (called “covered entities” in the Act) must register with the Cayman Islands Monetary Authority (“CIMA”). Such directors should understand and be familiar with the rules of registration as part of their role.

China has introduced a comprehensive Individual Income Tax regime for offshore trusts, imposing a 20% flat tax on settlors and beneficiaries with Chinese connections. With a 90-day transition window now in effect, affected individuals must urgently assess their disclosure obligations and consider whether existing trust structures remain viable under the new rules.

Ireland's Budget 2027 introduces significant tax reforms aimed at boosting competitiveness and encouraging investment, including reductions in capital gains tax, simplified interest relief provisions, and a new Personal Investment Account with favorable tax treatment. The budget package totals €8.5 billion with measures focused on rewarding work, promoting entrepreneurship, and addressing housing supply challenges.

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.

Important changes have been made to the BVI Business Companies Act, Revised Edition 2020 (the "Companies Act").

The CRS is the global standard developed by the OECD for the automatic exchange of financial account information between participating jurisdictions for tax purposes.

Liquidity concerns are all too familiar to most private equity fund managers these days, and investors in their funds have not been immune.

Further to our recent update, the DITC has issued an updated CRS Entity Self-Certification Form and Individual Self-Certification Form to reflect the recent amendments to the CRS as implemented in the Cayman Islands.

The decision as to where to establish an offshore trust can only be made based on the specific requirements of the client.

The Cayman Islands Department for International Tax Cooperation has made the following announcements regarding the AEOI regimes.

The Grand Court of the Cayman Islands recently delivered a judgment in In the matter of Pinnacle Global Partners Fund I LTD.