Cayman Islands: Tax Treaties

This guide to the Cayman Island's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction...

As at October 2022, 76 treaties have been signed, 73 of which are in force.

The new proposals are aimed at entities which do not maintain sufficient substance within the EU.

The Cayman Islands continues to push forward with adoption of this OECD reporting framework under the BEPS initiative.

To what extent is domicile or habitual residence relevant in determining liability to taxation in your jurisdiction? There is no direct taxation in the Cayman Islands.

41% are reviewing their investment structures to ensure they are BEPS-compliant

British Prime Minister David Cameron, speaking in the House of Commons on 9 September 2013, finally went on record to say what the British Overseas Territories and Crown Dependencies with international financial centres have long been saying.

In a notable and detailed decision of the Grand Court of the Cayman Islands dated 13 September 2013, Hon. Justice Quin issued an order for Certiorari quashing the decisions of the Cayman Islands Tax Information Authority ("CITIA") to provide information to the Australian Tax Office ("ATO") pursuant to four requests ostensibly made under the Tax Information Exchange Agreement between the Government of Australia and the Government of the Cayman Islands ("TIEA").

On 15 March, 2013, the Cayman Islands government announced its intention to sign an agreement with the United States authorities to adopt a Model 1 Intergovernmental Agreement (IGA) in response to the US Foreign Account Tax Compliance Act.