Cayman, UK Sign ‘FATCA’-Type Agreement

George Town, Grand Cayman – The Cayman Islands and the UK today signed a 'FATCA'-type intergovernmental agreement (IGA), preparing the way for Cayman to automatically share financial information with the UK on UK taxpayers who hold Cayman Islands accounts.

Steps to establish the legislative and operational framework to implement the agreement are underway, and Government also intends to issue guidance to assist with the implementation, said Cayman's Premier, the Hon. Alden McLaughlin.

'Entering into this agreement with the UK builds on our shared history of cooperation in tax and transparency matters; furthermore, it strongly indicates our mutual support for a single, global standard for the automatic exchange of information', he said.