Cayman Islands MCAA (Certified Copy)

Document Overview

Summary and analysis of the official DITC document: Cayman Islands MCAA (Certified Copy).

Key Concepts Covered

• Common Reporting Standard (CRS)
• Reporting Financial Institution
• Penalties and Enforcement

Deadlines & Timelines Mentioned

• By means of the present Declaration, the Competent Authority of the Cayman Islands is to be considered a signatory of the Agreement as from 29 October 2014.
• Signed in Berlin on 29 October 2014 Honourable G.
• September 2017 Individual High-Value Accounts Individual Low-Value Accounts Entity Accounts Preexisting Accounts A Financial Account maintained by a Reporting Financial Institution as of 31 December 2015.

Document Snippet

DECLARATION I, Honourable G. Wayne Panton, Minister of Financial Services, Commerce and Environment, on behalf of the Competent Authority of the Cayman Islands, declare that it hereby agrees to comply with the provisions of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information hereafter referred to as the "Agreement" and attached to this Declaration. By means of the present Declaration, the Competent Authority of the Cayman Islands is to be considered a signatory of the Agreement as from 29 October 2014. The Agreement will come into effect in respect of the Competent Authority of the Cayman Islands in accordance with Section 7 thereof. The Annex F notification referred to in Section 3(3) of the Agreement is deposited herewith. Signed in Berlin on 29 October 2014 Honourable G. Wayne Panton, Minister of Financial Services, Commerce and Environment MULTILATERAL COMPETENT AUTHORITY AGREEMENT ON AUTOMATIC EXCHANGE OF FINANCIAL ACCOUNT INFORMATION Whereas, the jurisdictions of the signatories to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (the “Agreement”) are Parties of, or territor...