2022 Cayman Islands compliance dates

Deadline

Filing

Authority

Notes

15 January 2022

CIMA fee payments for all entities registered with CIMA

CIMA

Late payment penalties start to accrue after 15 January 2022 on a monthly basis

15 January 2022

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

CIMA

 

15 January 2022

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

CIMA

 

31 January 2022

Economic Substance Notification

Registrar of Companies

This must be filed before an annual return can be filed

31 January 2022

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

Registrar of Companies

For an entity to be considered in good standing the Annual Return and fees must be filed and paid by 31 January 2022.  If the Annual Return and fees are not filed and paid by 31 March 2022 then late payment penalties start to accrue on a quarterly basis

30 April 2022

Registration for entities defined as Financial Institutions under CRS and FATCA legislation that started business between 1 May 2021 and 29 April 2022

DITC

 

30 June 2022

Audited financial statements for mutual funds and private funds with a financial year end of 31 December 2021

CIMA

 

30 June 2022

FAR Form for mutual funds and private funds with a financial year end of 31 December 2021

FAR Form

CIMA

 

31 July 2022

CRS and FATCA reporting for all Financial Institutions

Access to DITC Portal

DITC

 

1 September 2022

Date by which strike off application must be submitted for an entity to be dissolved on 31 December 2022

Registrar of Companies

 

15 September 2022

CRS Compliance Form for the year ending 31 December 2021

CRS Compliance Form

DITC

 

1 November 2022

Date by which strike off application must be submitted for an entity to avoid 2022 fees

Registrar of Companies

The entity will be dissolved on 31 March 2022

1 December 2022

Date by which an entity must be put into voluntary liquidation to avoid 2022 fees

Registrar of Companies

 

Variable

Tax Resident in Another Jurisdiction form, or Economic Substance Return for entities that carried on any relevant activity during 2021, with a financial year end during 2021 (eg 31 March, 30 June, 30 September or 31 December 2021)

DITC

For example, an entity with a 30 June 2021 financial year end and conducting a relevant activity between 1 January 2021 and 30 March 2021 must file its Economic Substance Return by 30 June 2022

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.