Thoughts
Cayman Islands Regulatory Calendar 2024
Stay up-to-date with the ever-evolving regulatory landscape with our regulatory deadlines calendar for Cayman-domiciled entities.
25 September 2023 - The scope of regulatory requirements in the Cayman Islands has increased significantly in recent years and requires Cayman-domiciled entities to meet various regulatory filing requirements, in addition to other obligations.
By staying informed and seeking guidance from experts, Cayman entities can navigate the regulatory landscape effectively.
This calendar is a useful tool for clients and entities seeking to keep pace with the ever-changing regulatory environment in the Cayman Islands. Understanding and adhering to these regulatory deadlines is crucial for entities to ensure compliance with the local requirements, and to avoid potential monetary penalties and reputational damage.
Key Annual Filing Dates
2024 Regulatory Deadline:
Regulatory Filing:
Applicable Legal Entity Type:
Authority:
Ongoing
Beneficial Ownership information or exemption to be submitted to the Registrar of Companies on a monthly basis.
All Cayman companies, Limited Liability Companies, Limited Liability Partnerships (and those registered by way of continuation in Cayman), including ordinary companies, exempted companies and exempted segregated portfolio companies.
Registrar of Companies
Variable
Economic Substance Returns due to the Department for International Tax Cooperation (‘DITC’) for “relevant entities” carrying on a “relevant activity”. Entities must complete their Economic Substance Return within 12 months of the applicable year-end (e.g. 31 March, 30 June, 30 September or 31 December).
Relevant entities, which includes all Cayman Islands companies, LLCs, LLPs, registered foreign companies and partnerships (including exempted limited partnerships, general partnerships, limited partnerships and foreign limited partnerships) and also foundation companies.
DITC
15 January
Annual licence fee renewals due to the Cayman Islands Monetary Authority (‘CIMA’) for regulated entities.
Banks, Trust Companies, Building and Cooperative Societies, Insurance Companies, Mutual Funds, Private Funds, Money Services Businesses, Securities Investment Business Operators, Company Managers, Corporate Service Providers, Virtual Asset Service Providers, entities regulated under the Directors Registration and Licensing Act.
CIMA
15 January
Annual declaration for directors registered with CIMA under the Directors Registration and Licensing Act.
All Directors registered with CIMA under the Directors Registration and Licensing Act.
CIMA
15 January
Annual declaration for entities registered as a Registered Person under the Securities Investment Business Act.
Securities Investment Business Operators.
CIMA
31 January
Economic Substance Notification due to the DITC via the Registrar of Companies.
All Cayman companies (including foundation companies), LLCs, LLPs, and partnerships (including exempted limited partnerships, general partnerships and limited partnerships).
DITC
31 January
Annual Return and annual fees due to the Registrar of Companies for all Cayman Islands entity types.
All Cayman companies (including foundation companies), LLCs, LLPs, registered foreign companies and partnerships (including exempted limited partnerships, general partnerships, limited partnerships and foreign limited partnerships).
Registrar of Companies
31 March
Economic Substance Notification due to the Registrar for foreign companies.
All foreign companies and foreign limited partnerships.
DITC
30 April
Registration deadline for entities defined as Financial Institutions under Common Reporting Standard (‘CRS’) and Foreign Account Tax Compliance Act (‘FATCA’) legislation for the prior year ending 31 December.
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
DITC
30 June
Audited Financial Statements and Fund Annual Return due for all CIMA-registered funds for the prior year ending 31 December.
Mutual Funds and Private Funds.
CIMA
31 July
CRS and FATCA reporting due to the DITC for all Reporting Financial Institutions for the prior year ending 31 December.
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
DITC
15 September
CRS Compliance Form due for the prior year ending 31 December.
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
DITC
31 December
De-registration deadline to avoid next year’s fees for CIMA registered entities and Directors.
Any CIMA-registered entity.
CIMA
2024 Regulatory Deadline:
Ongoing
Regulatory Filing:
Beneficial Ownership information or exemption to be submitted to the Registrar of Companies on a monthly basis.
Applicable Legal Entity Type:
All Cayman companies, Limited Liability Companies, Limited Liability Partnerships (and those registered by way of continuation in Cayman), including ordinary companies, exempted companies and exempted segregated portfolio companies.
Authority:
Registrar of Companies
2024 Regulatory Deadline:
Variable
Regulatory Filing:
Economic Substance Returns due to the Department for International Tax Cooperation (‘DITC’) for “relevant entities” carrying on a “relevant activity”. Entities must complete their Economic Substance Return within 12 months of the applicable year-end (e.g. 31 March, 30 June, 30 September or 31 December).
Applicable Legal Entity Type:
Relevant entities, which includes all Cayman Islands companies, LLCs, LLPs, registered foreign companies and partnerships (including exempted limited partnerships, general partnerships, limited partnerships and foreign limited partnerships) and also foundation companies.
Authority:
DITC
2024 Regulatory Deadline:
15 January
Regulatory Filing:
Annual licence fee renewals due to the Cayman Islands Monetary Authority (‘CIMA’) for regulated entities.
Applicable Legal Entity Type:
Banks, Trust Companies, Building and Cooperative Societies, Insurance Companies, Mutual Funds, Private Funds, Money Services Businesses, Securities Investment Business Operators, Company Managers, Corporate Service Providers, Virtual Asset Service Providers, entities regulated under the Directors Registration and Licensing Act.
Authority:
CIMA
2024 Regulatory Deadline:
15 January
Regulatory Filing:
Annual declaration for directors registered with CIMA under the Directors Registration and Licensing Act.
Applicable Legal Entity Type:
All Directors registered with CIMA under the Directors Registration and Licensing Act.
Authority:
CIMA
2024 Regulatory Deadline:
15 January
Regulatory Filing:
Annual declaration for entities registered as a Registered Person under the Securities Investment Business Act.
Applicable Legal Entity Type:
Securities Investment Business Operators.
Authority:
CIMA
2024 Regulatory Deadline:
31 January
Regulatory Filing:
Economic Substance Notification due to the DITC via the Registrar of Companies.
Applicable Legal Entity Type:
All Cayman companies (including foundation companies), LLCs, LLPs, and partnerships (including exempted limited partnerships, general partnerships and limited partnerships).
Authority:
DITC
2024 Regulatory Deadline:
31 January
Regulatory Filing:
Annual Return and annual fees due to the Registrar of Companies for all Cayman Islands entity types.
Applicable Legal Entity Type:
All Cayman companies (including foundation companies), LLCs, LLPs, registered foreign companies and partnerships (including exempted limited partnerships, general partnerships, limited partnerships and foreign limited partnerships).
Authority:
Registrar of Companies
2024 Regulatory Deadline:
31 March
Regulatory Filing:
Economic Substance Notification due to the Registrar for foreign companies.
Applicable Legal Entity Type:
All foreign companies and foreign limited partnerships.
Authority:
DITC
2024 Regulatory Deadline:
30 April
Regulatory Filing:
Registration deadline for entities defined as Financial Institutions under Common Reporting Standard (‘CRS’) and Foreign Account Tax Compliance Act (‘FATCA’) legislation for the prior year ending 31 December.
Applicable Legal Entity Type:
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
Authority:
DITC
2024 Regulatory Deadline:
30 June
Regulatory Filing:
Audited Financial Statements and Fund Annual Return due for all CIMA-registered funds for the prior year ending 31 December.
Applicable Legal Entity Type:
Mutual Funds and Private Funds.
Authority:
CIMA
2024 Regulatory Deadline:
31 July
Regulatory Filing:
CRS and FATCA reporting due to the DITC for all Reporting Financial Institutions for the prior year ending 31 December.
Applicable Legal Entity Type:
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
Authority:
DITC
2024 Regulatory Deadline:
15 September
Regulatory Filing:
CRS Compliance Form due for the prior year ending 31 December.
Applicable Legal Entity Type:
Any Cayman-domiciled entity which has been defined as a “Financial Institution” for AEOI purposes.
Authority:
DITC
2024 Regulatory Deadline:
31 December
Regulatory Filing:
De-registration deadline to avoid next year’s fees for CIMA registered entities and Directors.
Applicable Legal Entity Type:
Any CIMA-registered entity.
Authority:
CIMA
Please note that the information contained within this calendar is not intended to be an exhaustive list, nor does it constitute legal advice and should therefore not be treated as a substitute for specific advice concerning individual situations.
Citco Corporate Solutions companies of the Citco group of companies (Citco) provide a full suite of corporate services through our specialized team located in the Cayman Islands. The Corporate team at Citco Trustees (Cayman) Limited is composed of experienced professionals that assist client entities to manage their regulatory compliance requirements, ensuring that all obligations are satisfied and attended to in a seamless fashion, carried out with the highest degree of efficiency. Our team helps clients to navigate a smarter path forward by creating customized solutions designed to fit each organization and its needs.
To discuss your options and requirements in relation to the upcoming regulatory filing deadlines, please do get in touch.