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2023 Cayman Islands compliance dates

Download pdf
20 Sep 2022

Deadline

Filing

Authority

Notes

15 January 2023

CIMA fee payments for all entities registered with CIMA

CIMA

Late payment penalties start to accrue after 15 January 2023 on a monthly basis

15 January 2023

Annual declaration for directors registered with CIMA under the Director Registration and Licensing Act

CIMA

15 January 2023

Annual declaration for entities registered as a Registered Person under the Securities Investment Business Act

CIMA

31 January 2023

Economic Substance Notification due for all entity types

Registrar

This must be filed before an annual return can be filed

31 January 2023

Annual Return and payment of annual fees for all entities incorporated or registered in the Cayman Islands (including foreign partnerships and companies)

Registrar

For an entity to be considered in good standing the Annual Return and fees must be filed and paid by 31 January 2023. If the Annual Return and fees are not filed and paid by 31 March 2023 then late payment penalties start to accrue on a quarterly basis

30 April 2023

Registration for entities defined as Financial Institutions under CRS and FATCA legislation

DITC

30 June 2023

Audited financial statements for mutual funds and private funds with a financial year end of 31 December 2022

CIMA

30 June 2023

FAR Form for mutual funds and private funds with a financial year end of 31 December 2022
FAR Form

CIMA

31 July 2023

CRS and FATCA reporting for all Financial Institutions
Access to DITC Portal

DITC

1 September 2023

Date by which strike off application must be submitted for an entity to be dissolved on 31 December 2023

Registrar of Companies

15 September 2023

CRS Compliance Form for the year ending 31 December 2022
CRS Compliance Form

DITC

1 November 2023

Date by which strike off application must be submitted for an entity to avoid 2024 fees

Registrar of Companies

The entity will be dissolved on 31 March 2024

1 December 2023

Date by which an entity must be put into voluntary liquidation to avoid 2024 fees

Registrar of Companies

Variable

Tax Resident in Another Jurisdiction form, or Economic Substance Return for entities that carried on any relevant activity during 2023, with a financial year end during 2023 (eg 31 March, 30 June, 30 September or 31 December 2022)

DITC

For example, an entity with a 30 June 2022 financial year end and conducting a relevant activity between 1 January 2022 and 30 March 2022 must file its Economic Substance Return by 30 June 2023

Ongoing

Beneficial Ownership information or exemption

Registrar of Companies

Entities registered with CIMA as a Registered Person under the Securities Investment Business Act or registered under the Private Funds Act or the Mutual Funds Act are not required to obtain beneficial ownership details nor maintain a beneficial ownership register, however they must file details of their exemption

Where Harneys provides registered office services to an entity, the Annual Return and Economic Substance Notification will be on the Harneys Connect Portal.

The foregoing is for general information only and not intended to be relied upon for legal advice in any specific or individual situation.

Authors

Matt Taber Harneys front portrait image on a grey background
Kaneesa Ebanks Wilson Harneys front portrait image on a grey background