Substance in Cayman: The Blacklist Deadline Looms [Brought to you by Carey Olsen Singapore]
BY Alastair King |
With the Dec. 31, 2018 deadline fast approaching, a degree of uncertainty remains as to how the Cayman Islands’ Government will prevent the jurisdiction from becoming ‘blacklisted’ by the European Union. As was to be expected since the deadline was announced last year, there is a growing list of offshore jurisdictions publicly demonstrating their efforts to show their compliance, by drafting, proposing and implementing applicable legislation. The Cayman Islands has issued regular press releases on the subject but, at the time of writing, is conspicuous by its absence from this list. And the clock is ticking.