| JANUARY | 1 | Common Reporting Standard (CRS) Regulations come into effect in the Cayman Islands |
| Annual company registration and partnership registration fees are due to the Cayman Islands Registry | ||
| 15 | Annual mutual fund
registration fees, director registration and licensing fees and
fees payable under the Securities Investment Business Law
(SIBL) are due to the Cayman Islands Monetary
Authority (CIMA) Penalties begin to accrue for late payment from 16 January |
|
| Deadline for filing the Annual Declaration for SIBL "Excluded Persons" with CIMA | ||
| MARCH | 31 | For mutual funds with 30 September year ends, deadline to file audited annual financial statements and Fund Annual Return (FAR) with, and pay FAR filing fee to, CIMA |
| APRIL | 30 | Deadline for a Reporting
Financial Institution (RFI) under CRS Regulations
to notify the Cayman Islands Tax Information Authority of its
status as an RFI Penalties begin to accrue for unpaid annual registration fees due to the Cayman Islands Registry |
| MAY | 31 | First reporting date for reporting to the Cayman Islands Tax Information Authority on "Specified UK Persons" (UK FATCA) |
| Annual deadline for reporting to the Cayman Islands Tax Information Authority on "Specified US Persons" (FATCA) | ||
| JUNE | 30 | For mutual funds with 31 December year ends, deadline to file audited annual financial statements and FAR with, and pay FAR filing fee to, CIMA |
| SEPTEMBER | 1 | Year end termination plans for defunct and liquidating entities should be put into action |
| 30 | For mutual funds with 31 March year ends, deadline to file audited annual financial statements and FAR with, and pay the FAR filing fee to, CIMA | |
| DECEMBER | 31 | Deadline for completing due diligence on "Pre-Existing High Value Accounts" under CRS Regulations |
| For mutual funds with 30 June year ends, deadline to file audited annual financial statements and FAR with, and pay the FAR filing fee to, CIMA |
GENERAL REMINDERS
| Exempted Companies and Segregated Portfolio Companies | Changes to the register of directors and officers – Must be filed with the Registry of Companies within 60 days or penalties will be applied to any late filing |
| Change in a company's registered office – Must be filed with the Registry of Companies within 30 days | |
| Special resolutions must be filed with the Registry within 15 days of adoption | |
| Exempted Limited Partnerships | Changes to Section 9 Statements – Must be filed within 60 days, or in the case of a change in general partner within 15 days, although a change in general partner is only effective under Cayman law on filing |
| Mutual Funds | Material changes to offering memorandum and/or to the prescribed details within Form MF must be filed with CIMA within 21 days, and in the case of a mutual fund that ceases to carry on business, it must also notify CIMA within 21 days |
| CIMA-registered mutual funds must hold at least 2 board meetings per year and must otherwise adhere to the Statement of Guidance on Corporate Governance issued by CIMA | |
| Any CIMA-registered mutual fund seeking an audit extension must apply to CIMA at least 30 days prior to the audit filing deadline and pay the applicable audit extension application fee to CIMA | |
| CIMA-Registered Directors | For CIMA-registered mutual funds, a director must register with CIMA prior to appointment as a director and changes in directors must be notified to CIMA within 21 days |
| On deregistration of a company from CIMA, any director of the company who is registered with CIMA and whose only directorship is with that company must surrender his/her registration and pay the applicable surrender fee to CIMA |
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
