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
Thank you!We have recieved your details.
The Maples Group is pleased to announce that they have retained their Band 1 ranking in the Offshore category of the Asia Pacific Region in the Chambers Asia Pacific Directory 2020.
11 Dec 2019Read more
The Maples Group is pleased to announce a number of new leadership appointments following its biennial management elections.
04 Dec 2019Read more
Earlier this month, Maples and Calder, the Maples Group's law firm was honoured to win two prestigious awards at the annual HFM Asia Services Awards and China Offshore Awards.
29 Nov 2019Read more
Maples and Calder, the Maples Group's law firm was pleased to advise Alibaba Group Holding Limited on its recent global offering of 500,000,000 shares and its listing on the Hong Kong Stock Exchange. The offering is the largest in Hong Kong since 2010.
22 Nov 2019Read more
Three partners from Maples and Calder, the Maples Group's law firm, have been recognised by Bloomberg Tax & Accounting in their 2019 author awards for international tax.
18 Nov 2019Read more
The Maples Group has announced the appointment of a number of strategic hires to its team in the Cayman Islands to provide specialist services to a broad range of structured finance transactions and special purpose vehicles.
18 Nov 2019Read more