The Automatic Exchange of Information (AEOI), which comprises due diligence and reporting regimes such as the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) introduces an information standard for the automatic exchange of financial information to combat tax evasion. While this is a significant step toward a globally coordinated approach, it does introduce added complexity and an increased compliance burden. The Maples Group is uniquely positioned to provide legal advice and administrative solutions to clients on all aspects of the AEOI, providing constructive and insightful advice and offering flexible and cost effective solutions to ensure clients meet the necessary requirements. Our services include:
- Advising on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg or assisting in relation to the potential application of FATCA and CRS, including entity classification, local and foreign tax authority registration and notification requirements, availability of reporting exemptions, self certification and due diligence requirements;
- Drafting or reviewing language for incorporation into offering materials, constitutional and other documents, where relevant;
- Drafting or reviewing self certification forms, sponsored entity agreements and delegation agreements;
- Drafting or reviewing policies and procedures;
- Registering a client with the IRS and obtaining a Global Intermediary Identification Number (GIIN), and/or registration, notification and liaison with local authorities, as applicable;
- Classification, validation and remediation of pre-existing accounts;
- Onboarding new accounts to ensure required data is captured, and obtaining forms and due diligence documentation for validation up front to facilitate compliance;
- Preparation and filing of reports that are compliant with applicable legal requirements; and
- Sponsoring entity services - taking responsibility for FATCA compliance on behalf of the client, including performing all initial and ongoing due diligence to identify any reportable accounts, GIIN registration and reporting where applicable.
LocationsCayman Islands | Dublin | Luxembourg
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The Maples Group has comprehensive, jurisdictionally specific, pandemic plans in place. This is a summary of the preventative measures that we are taking.
20 Mar 2020Read more
The Maples Group is pleased to announce that due to the remarkable growth of its business in Luxembourg, it has relocated its offices.
12 Mar 2020Read more
New Partners and Of Counsel are appointed across the Group's international offices.
05 Mar 2020Read more
Maples and Calder, the Maples Group's law firm, is pleased to retain its position as the number one legal adviser to Irish-serviced funds for the seventh consecutive year by the Monterey Insight Ireland Fund Report 2019.
24 Feb 2020Read more
All of the Maples Group's Hong Kong teams will now be located at Central Plaza in Wanchai's north business district in Hong Kong.
21 Feb 2020Read more
Maples and Calder, the Maples Group's law firm, is pleased to announce that it has retained its position as the number one listing agent on the Cayman Islands Stock Exchange (the "CSX") having advised on 47% of all CSX’s listings in 2019.
12 Feb 2020Read more