The Cayman Islands, along with many other jurisdictions, has
been required by the OECD to introduce economic substance
requirements. This briefing explains what these requirements mean
for the Cayman Islands and how to determine if a Cayman Islands
entity is subject to the requirements imposed by the Substance
Law.
The briefing looks at the following aspects of the economic
substance requirements in the Cayman Islands:
Economic Substance Legislation
The Cayman Islands, along with many other jurisdictions, has
been required by the OECD to introduce economic substance
requirements. Framework legislation to meet the requirements, the
International Tax Co-operation (Economic Substance) Law, 2018
(Substance Law), was introduced in December 2018.
The new substance rules have been amended by regulations
