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ARTICLE · 23 OCTOBER 2020

Cayman Islands Economic Substance Reporting And Notification

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Further to our previous update, the Guidance on Economic Substance for Geographically Mobile Activities (the "Guidance") supporting The International Tax Co-operation...

Cayman IslandsFinance and Banking
Jon Fowler
Jon Fowler
Jonathan Green
Jonathan Green
Alasdair Robertson
Alasdair Robertson
Matthew Gardner
Matthew Gardner
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Further to our previous update, the Guidance on Economic Substance for Geographically Mobile Activities (the "Guidance") supporting The International Tax Co-operation (Economic Substance) Law (2020 Revision) (as amended by relevant regulations, the "Economic Substance Law") was recently updated and now includes sector specific guidance.

Please click on the relevant activities listed below to view an activity specific client update.

  1. Banking

  2. Insurance

  3. Shipping

  4. Fund management
     
  5. Financing and leasing

  6. Headquarters
     
  7. Distribution and service centres
       
  8. Holding company
     
  9. Intellectual property

Economic Substance Notification

In preparation for the annual Economic Substance Notification process, clients should consider whether changes in either: (i) the Guidance; and / or (ii) the activities carried out by their Cayman Islands entity, may mean the classification of such entity (or any notification made in 2020) under

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