Government measures in key jurisdictions 5th edition - Flipbook - Page 33
Cayman Islands
Tax
•
No. The Cayman Islands does not have any direct taxation.
Has any new
legislation been
introduced in light
of Covid-19?
•
See below regarding economic substance.
Company
law matters
•
The Cayman Islands Registrar of Companies is operating as usual with some
minor changes to adapt to the Covid-19 pandemic such as accepting affidavits or
other documents that have been notarised/certified online or utilising audio-video
technology during this time.
Have any measures
been put in place
•
to accommodate
•
social distancing
(such as remote
general meetings)?
Cayman Islands exempted companies are not obliged to hold annual general meetings.
Where board meetings are required to be held virtually during this period, the
Cayman Islands Department for International Tax Cooperation will take that
into consideration, on a case-by-case basis, when determining whether an entity
has passed or failed the economic substance test in its reporting which is due in
2021.
•
Please see our update on Overcoming barriers to completion of corporate
transactions amidst Covid-19 challenges and our Caribbean Regulatory Update.
•
All the most recent Mourant updates relating to Covid-19 are available at Mourant
Covid-19 Updates.
Government measures in key jurisdictions
33
