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 continued its recent wave of expansion with the appointment of two highly experienced professionals to its global team. Benoit (Ben) Sansoucy and Colin Nestor will both serve as independent directors, based in the Cayman Islands, providing specialist fiduciary services to a broad range of alternative investment vehicles.
10 Apr 2019Read more
The Maples Group is advising Careem Inc. ("Careem") on the sale of substantially all of its business to a subsidiary of Uber Technologies, Inc. ("Uber") for consideration totalling approximately US$ 3.1 billion comprising a mixture of cash and notes convertible into shares of Uber.
08 Apr 2019Read more
Maples Group's legal services team successfully defend an appeal brought before the Judicial Committee of the Privy Council.
08 Apr 2019Read more
The Maples Group's legal services division announces the appointment of eight new partners and seven of counsel across its global offices.
03 Apr 2019Read more
The Maples Group's legal services division in Dublin is pleased to announce the appointment of four partners and a new Head of Employment.
21 Mar 2019Read more