The Foreign Account Tax Compliance Act (FATCA) was passed in 2010 as part of the HIRE act. Starting in 2014, FATCA will require foreign financial institutions to report information regarding accounts of US citisens, US persons, Green Card holders and individuals holding certain US investments, to the IRS.
The Cayman Islands Government announced in April 2013 that it woudl adopt a Model 1 intergovernmental agreement (IGA) in response to FATCA.
This decision to adopt the Model 1 IGA will fortify our good standing in the global community and continue to build on the solid foundation we already have in place with our existing agreements. We will continue to take our place in the international arena and ensure that we maintain our positive and informed engagement in the rapidly developing environment of international tax cooperation. Hon Minister Rolston Anglin
Buoyant Start to 2017 for Cayman Insurance Industry
George Town, Grand Cayman: 13 April 2017
Following an excellent year for new insurer licenses issued in 2016 (39 in total), the Cayman Islands Insurance Industry has seen a buoyant start to 2017, with 8 new Insurer licenses issued in the first quarter. The...