Cayman Islands blacklisted by European Union, Article of MMag. David Karl Jandrasits

In February 2020, the Cayman Islands was added to the EU’s list of non-cooperative jurisdictions for tax purposes (“blacklist”). The Cayman Islands is a well-established domicile for investment funds, in particular AIF such as globally managed private equity and hedge funds and is especially recognized as an attractive jurisdiction for investment funds by US investors/promoters due to its common law system (mostly private non-retail funds). However, the EU decision could have far-reaching consequences for existing and planned funds. Current developments in the investment fund market have prompted many investors and asset managers to consider re-domiciling or domiciling an alternative investment fund in other jurisdictions such as Liechtenstein.

 

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