OECD Common Reporting Standard
All hedge funds domiciled in either the Cayman Islands or British Virgin Islands are required monitor compliance with the Organisation for Economic Cooperation and Development’s Common Reporting Standard or “CRS.” Under CRS a “financial institution” is defined to include investment funds of any kind, whether registered with its jurisdiction or not. In the Cayman Islands and British Virgin Islands, hedge funds are required to register with their respective Tax Information Authority and submit required information returns prior to May 31st of each year. The OECD has created the Automatic Exchange of Information portal to effectuate such filings.
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