Cayman Islands AEOI Portal Re-Opens

The Cayman Islands government announced this week that the automatic exchange of information (AEOI) portal has re-opened, allowing Cayman Islands financial institutions to submit their 2017 FATCA and CRS returns. Various updated guides and forms are also now available on the Cayman Islands Tax Information Authority (TIA) website:

CRS Guidance Notes including clarifying the requirements for closing accounts and AEOI compliance obligations after a financial institution has been dissolved

• AEOI Portal User Guide
• Entity Self-Certification Form, this is to be used for all new entity accounts and includes a new 10% (instead of 25%) controlling ownership interest threshold for CRS for an entity that is a legal person, to reflect the amended Anti-Money Laundering Regulations 2017. There is no change to the 25% controlling person threshold for FATCA compliance.