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With effect from 1 January 2026, significant changes have been made to the Cayman Islands CRS Regulations to implement the OECD’s CRS 2.0.
In our latest article published in the AIMA Journal, Chris Capewell, Jo Ottaway and Sam Short discuss the significant changes to the Cayman Islands CRS Regulations implementing the OECD’s CRS 2.0, which took effect on 1 January 2026. Our article highlights the key areas of change that Cayman Islands Financial Institutions should be aware of, including:
- Tightened registration and reporting requirements, with accelerated deadlines, expanded data fields and a new obligation to appoint a local Principal Point of Contact in the Cayman Islands
- Enhanced due diligence obligations, including the requirement to collect a “valid” self-certification at or before account opening, and updated written CRS policies and procedures that must now expressly comply with Sections II to VII of the CRS itself; and
- An expanded scope covering virtual assets, modernising key definitions to capture certain electronic money products, digital currencies and crypto-assets, reflecting the OECD’s efforts to keep pace with the evolving digital asset landscape
Read CRS 2.0 comes to the Cayman Islands in full.
Chris, Jo and Sam’s contribution formed part of the AIMA Journal Edition 145, first published in March 2026.
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.
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