The Cayman Islands has been removed from the European Union’s list of non-cooperative jurisdictions for tax purposes.

The Cayman Islands Government and other stakeholders in the jurisdiction’s financial services industry welcomed the news announced on 6th October 2020. The EU’s decision is recognition of the Cayman Islands’ sustained efforts to meet EU regulatory requirements on tax transparency, and continuing its focus on expanding the regulatory framework for investment funds, and extending the scope of anti-money laundering regulation.