Cayman economic substance reporting deadlines further extended

Further to our November Alert the Cayman Department for International Tax Cooperation (DITC) has provided a further update on Economic Substance matters.

Related briefings

Safe travels: can Bermuda’s testing approach offer lessons?

The aviation industry has been one of the worst hit by the Covid-19 pandemic. If airlines and associated businesses are to survive, it is essential that people start flying again. How to do that safely without promoting the spread of the virus is the sixty-four billion dollar question.

Provisional liquidators, the automatic stay, and the Hong Kong Court

By Ben Hobden and Norman Hau This article considers the approach taken by the Cayman Court when faced with an application by a company to appoint ‘soft touch’ provisional liquidators and obtain the benefit of the statutory moratorium when proceedings are extant in another jurisdiction, and a recent decision of the Hong Kong Court providing […]

BVI passes legislation codifying the “Black Swan” jurisdiction

On 7 January 2021, the BVI enacted an important amendment to the Eastern Caribbean Supreme Court (Virgin Islands) Act which provides that the BVI court now has jurisdiction to grant free-standing interim relief in aid of existing or anticipated foreign proceedings.

10 Things You Need To Know About Taking Security Over a Cayman Islands Flagged Vessel

The Cayman Islands are an attractive choice for ship owners seeking financing for their vessels and for financiers looking for security in relation to their investment due to the well-established, highly experienced and client-focused shipping registry as well as a legal and political system which creates a strong, stable and creditor friendly jurisdiction. In the […]

Latest Briefings

Taking time off to look after dependants

Understanding what employees’ rights are and how this should be handled by employers has never been more important as we reach the peak of the pandemic.

Material adverse change clauses – draft carefully

The unprecedented situation that the coronavirus pandemic has delivered to global commerce has impacted on a variety of contractual issues related to non-contentious day-to-day transactions.

An employment guide to lockdown 3.0

With COVID-19 taking hold once more, the government has put the UK under a third lockdown, forcing all non-essential shops to close once again.

BVI update: “Black Swan” legislation passed

On 31 December 2020, the BVI House of Assembly passed the so-called “Black Swan” Bill amending section 24 of the Eastern Caribbean Supreme Court (Virgin Islands) Act (Cap. 80) so as to confer jurisdiction on the BVI Court to grant interim relief in support of foreign proceedings.

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Scottish Water set to review panel firms by April

Scottish Water is seeking to update its legal panel, six years after putting together its last roster of law firms. The publically-owned water and waste water company had reappointed DLA Piper and CMS Cameron McKenna Nabarro Olswang in 2015, alongside BLM. Scottish firm Anderson Strathern won a spot on the panel for the first time, […]

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