Thu-Sep-29-2016

IMAC Guidance re Rule - Corporate Governance for Insurers - April 2016

Chairperson of Legislative & Regulatory Committee (IMAC)

This communication is addressed to Managers, and not to Insurers. It should not be provided to licensed clients of Insurance Managers. IMAC offers this communication to highlight practices that Managers may wish to consider when assisting their licensed cli...

Wed-Jun-08-2016

Rule on Corporate Governance

Supplement No. 6 published with Extraordinary Gazette No. 45 dated 8 June, 2016.

Please see the Rule for Corporate Governance which was gazetted on 8 June 2016 (click here) __________________________________________  The following commentary has been circulated by Solomon Harris and is reprinted with their kind permission. As part of it...

Fri-Apr-29-2016

Insurance Law amendment April 2016 - Capital & Solvency Classes B,C and D Amendment Regulations

Cayman Islands Gazette

See the following link for the Insurance (Capital and Solvency)(Classes B, C and D Insurers)(Amendment) Regulations,2016 (click here) Source:Supplement No.1 published with Extraordinary Gazette No. 32 dated April 29, 2016.  

Fri-Apr-22-2016

CIMA - Personal Questionnaire Form 2016

Updates: 2016-04-27 CIMA is providing a transitional period to May 31 2016 where the old PQ may be submitted to the Authority. ____________________________________  Dear Heads of Private Sector Associations: Please be advised that the Authority has issued a...

Tue-Apr-12-2016

Common Reporting Standard Guidance Notes Issued

The Ministry of Financial Services, Commerce and Environment

INDUSTRY ADVISORY Industry is advised that the Department for International Tax Cooperation (DITC) issued the Cayman Islands Common Reporting Standard (CRS) Guidance Notes on 12 April 2016. The CRS Guidance Notes are issued following consultation with indu...

Tue-Oct-20-2015

Common Reporting Standards (CRS) Regulations Are in Effect - 20Oct2015

The Ministry of Financial Services, Commerce and Environment

Industry is advised that the Common Reporting Standard (CRS) regulations are available on the Department of International Tax Cooperation website, as they were gazetted on Friday, 16 October, and are now in force. These regulations are a key component of Ca...

Tue-Jul-22-2014

FATCA Guidance Notes Issued

Cayman Islands Government

FATCA Guidance Notes Issued As the competent authority for international exchange of information for tax purposes, the Tax Information Authority, in accordance with powers conferred by regulations, today is issuing the Guidance Notes on the International Ta...

Fri-Jul-04-2014

Law, Regulations In Effect to Facilitate Automatic Tax Information Exchange

Ministry of Finance

Industry is advised to view www.tia.gov.ky for all current amendments to the Tax Information Authotity Law. The amendment to the law is primarily to facilitate AEOI (automatic exchange of information) for tax purposes. The regulations bring into force in do...

Thu-Apr-17-2014

House Approves Bills on Partnership Formation, Third-Party Rights

Ministry of Financial Services, Commerce and Environment

Legislation to increase Cayman’s attractiveness for partnership formation, as well as a law that will give more rights to persons who are not direct parties in a contract, was approved on Friday, 11 April in the Legislative Assembly. Both pieces of legisla...

Fri-Dec-13-2013

Domicile Comparison

IMAC

This is a handy comparison tool that provides aspects of various captive insurance domiciles. This Domicile Comparison has been collated by research from various members of IMAC. The information contained within this document is for general and/or informati...

Sat-Dec-07-2013

Incorporated Cell Legislation - New Opportunities for SPC Insurers

Paul Scrivener

It is, arguably, the most significant legal development for Cayman’s insurance sector since the introduction of SPCs in 1998. The Amendment Law, whilst now on the statute book, is not yet in force at the time of writing this article but will be brought into...

Mon-Nov-18-2013

Porfolio Insurance Companies - Harneys

Wendy Lee

On March 25, 2013, the Cayman Islands Legislative Assembly passed anamendment to the Insurance Law (the Amendment) permitting certain insurersformed as segregated portfolio companies (SPCs) to register portfolio insurancecompanies (PICs). The Amendment perm...

Tue-Nov-05-2013

Cayman Islands Insurance Companies - Harneys

Wendy Lee

The Cayman Islands recently updated its existing legislative regime with respect to insurers andreinsurers. The Insurance Law, 2010, which came into effect in November 2012, and itsaccompanying regulations (hereinafter collectively referred to as the “Insur...