Cayman and US conclude Fatca agreement
The move is set to lighten the compliance burden for asset managers domiciling funds in the Cayman Islands, an offshore jurisdiction popular among Asian firms.
In an important development for alternative investment firms, the Cayman Islands finalised agreements under the US Foreign Account Tax Compliance Act (Fatca) on Wednesday night, Hong Kong time.
The model 1 intergovernmental agreement (IGA) and a new tax information exchange agreement (TIEA) pave the way for automatic exchange of information under Fatca.
They mean that foreign financial institutions in the Cayman Islands – a widely used offshore jurisdiction for hedge funds and p…
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