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West Palm Beach (HedgeCo.net) – The Organisation for Economic Cooperation and Development (OECD) added the Cayman Islands to its ‘white list’ of jurisdictions that  implement international tax standards for investors such as hedge funds and other alternative investors.

Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and Administration, welcomed the signing of the Cayman Islands’ twelfth Tax Information Exchange Agreement (TIEA) with New Zealand, on 13 August 2009 putting it “alongside other countries that have substantially implemented the internationally agreed tax standard.”

In response, the Cayman Islands Government summarized: “For over four decades the Cayman Islands has steadily earned its place as a world-class international financial  services centre. The Cayman Islands Government sees the OECD’s recognition as a  natural outcome of the country’s substantial commitment to uphold an equally worldclass international cooperation regime in the exchange of tax information.”

Alex Akesson

Editor for HedgeCo.net

alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Tags: accredited-investors, cayman island, cayman islands government, development oecd, economic cooperation, exchange agreement, financial services centre, information exchange, international cooperation, ubs

HedgeCo.net (West Palm Beach) – The Organisation for Economic Cooperation and Development (OECD) added the Cayman Islands to its ‘white list’ of jurisdictions that substantially implement international tax standards.

The Cayman Islands recognition came about after the country signed its twelfth Tax Information Exchange Agreement (TIEA) with New Zealand, on 13 August 2009.

“For over four decades the Cayman Islands has steadily earned its place as a world-class international financial services centre." Leader of Government Business/Premier Designate, the Honourable McKeeva Bush said, "The Cayman Islands Government sees the OECD’s recognition as a natural outcome of the country’s substantial commitment to uphold an equally world-class international cooperation regime in the exchange of tax information.”

Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and Administration, welcomed the signing which puts Cayman Islands “alongside other countries that have substantially implemented the internationally agreed tax standard.”

The Cayman Islands’ maintains 12 bilateral tax information arrangements with the following countries:  Denmark, Faroe Islands, Finland, Greenland, Iceland, Ireland, Netherlands, New Zealand, Norway, Sweden, United Kingdom and the United States.

Alex Akesson

Editor for HedgeCo.net

alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Tags: accredited-investors, cayman islands government, development oecd, economic cooperation, exchange agreement, faroe islands, hedge fund, hedge funds, honourable, information exchange, international cooperation, natural outcome, norway sweden, organisation for economic cooperation and development, palm-beach, rsquo, substantial commitment, tax information, tiea, west palm beach

Hedge Week.com – For most of the past decade, the Cayman Islands have been the world’s dominant offshore alternative fund domicile. At the last count, the jurisdiction had around 10,000 funds, the vast majority of which are hedge funds of one stripe or another.

But with offshore financial services under hostile scrutiny as never before, Cayman finds itself on a ‘grey list’ of jurisdictions assessed by the Organisation for Economic Co-operation and Development as having signed up to the principles of tax transparency and exchange of information but failed, so far at least, to have adequately implemented them by signing tax information exchange agreements with OECD members.

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Tags: cayman islands, decade, exchange agreements, fund domicile, grey list, information exchange, jurisdiction, jurisdictions, oecd members, offshore financial services, scrutiny, tax information, transparency