Cayman Islands Publishes FAQs on Economic Substance

The Cayman Islands Department of International Tax Cooperation has published a FAQs document on the new Economic Substance (ES) requirements that entered into force on 1 January 2019 ({News-2019-05-10/A/2-previous coverage}). The includes answers to questions on ES notification and reporting and certain other matters as follows:

Notification (s7(2) ES Law)

How do I submit my notification?

The Economic Substance ("ES") notification will be required for all entities with separate legal p…