With effect from 1 January 2026, significant changes have been made to the Cayman Islands CRS Regulations to implement the OECD’s CRS 2.0.
In our latest article published in the AIMA Journal, Chris Capewell, Jo Ottaway and Sam Short discuss the significant changes to the Cayman Islands CRS Regulations implementing the OECD’s CRS 2.0, which took effect on 1 January 2026. Our article highlights the key areas of change that Cayman Islands Financial Institutions should be aware of, including:
- Tightened registration and reporting requirements, with accelerated deadlines, expanded data fields and a new obligation to appoint a local Principal Point of Contact in the Cayman Islands
- Enhanced due diligence obligations, including the requirement to collect a “valid” self-certification at or before account opening, and updated written CRS policies and procedures that must now expressly comply with Sections II to VII of the CRS itself; and
