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Panama

Cayman Islands, Panama and Seychelles added to the EU “blacklist”

18 February 2020 the European Commission has published an information about the regular update of the “blacklist” of non-cooperative jurisdictions for tax purposes. This time it was decided to list 4 new jurisdictions. In February 2020 Cayman Islands, Palau, Panama and Seychelles have been added to the “blacklist”. As a result, the current version of

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Cayman Islands: economic substance requirements

Cayman Islands: economic substance requirements

In line with other United Kingdom’s dependent territories such as British Virgin Islands (BVI), Bermuda, Jersey, Guernsey and Isle of Man, on 1 January 2019 Cayman Islands has enacted legislation on economic substance for legal entities. 30 April 2019 the official document that regulates some issues of application of the new legislation named  Guidance on

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Redomiciliation of companies: international practice

Redomiciliation of companies: international practice

Legislation of many countries allow re-registration to another jurisdiction of legal entity that was originally incorporated in one jurisdiction. Due to substantial changes of requirements to international companies in offshore jurisdictions (British Virgin Islands (BVI), Belize, Cayman Islands, etc.) that was made in 2019 this instrument may be used more frequently than before. Redomiciliation provides

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Cayman Islands: registers of beneficial owners

Cayman Islands: registers of beneficial owners

In 2017 the legislation of Cayman Islands regulating collection, keeping and disclosure of information regarding beneficial owners of companies was amended. The registers of beneficial owners were to be filed before 29 June 2018. In accordance with subsection 3 of section 247 of Companies Law a natural person is deemed to be the beneficial owner

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