Cayman Islands Industry Advisory on Common Reporting Standard and Economic Substance Requirements

The Cayman Islands Department for International Tax Cooperation (DITC) has published an Industry Advisory dated 17 June 2026 on updates regarding the Common Reporting Standard (CRS) and Economic Substance (ES) requirements. The main points regarding CRS are summarized as follows:

• The deadline to submit 2025 CRS XMLs and/or 2025 CRS Filing Declarations is 31 July 2026;
• The DITC Portal will close for CRS XML submissions in early August 2026 to transition to CRS XML Schema version 3.0 (XML v3.…