Cayman Islands AEOI portal reopens - get your filings ready ...
- reviewing the fund’s existing documentation to make sure AEOI obligations are properly disclosed and the fund can get all the self certification and other documents it needs
- reviewing each fund’s AEOI written policies and procedures and making sure that the fund’s complying with them – this is made easier if the fund has delegated AEOI compliance to its administrator but funds still need written policies and procedures in place setting out how the delegation works
- registering on the portal, whether or not the fund has reporting obligations under AEOI legislation
- appointing an authorising person as well as a principal point of contact (PPOC) – previously Cayman funds had to appoint a PPOC as their main point of contact with the TIA for any queries. The TIA recently confirmed that funds now also need to appoint an authorising person (who can’t be the same person as the PPOC) who will be the only person who can tell the TIA that the PPOC has changed. So funds now need to make sure that they provide details of their authorising person on the portal, as part of their CRS notification this year
Published June 4, 2017
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