7 April 2017

FATCA is now in effect (1 July 2014) although the first reporting for Cayman Islands hedge funds is not required until 1 January 2015.

The investor requirements applicable timelines for Cayman Islands Hedge Funds are set out below.

 

Each fund must have:

A)     a self-certification form (click HERE for the Self-Certification Form issued by the Cayman Islands Government)

AND:

B)     W-9 U.S Persons; or

W-8BEN – individuals; or

W-8BEN’E – entities

 

Deadlines for FATCA compliance:

Individual investors 

- Immediately: New individual investors from 1 July 2014 must provide the self-certification and the relevant tax form at the time of the subscription.

- 30 June 2015 - Current preexisting large investors (more than US$50,000)

- 30 June 2016 - Current preexisting small investors (less than US$50,000)

Entity investors 

Immediately: New entity investors from 1 July 2014 must provide the self-certification and the relevant tax form at the time of the subscription.

- less than $250,000 no action required until it is over $1 million

30 June 2016 if more than $250,000