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Cayman Islands and BVI added to OECD White List

August 2009

Multi-jurisdictional law firm Conyers Dill & Pearman is pleased to announce that the Cayman Islands and British Virgin Islands have been added to the OECD White List of jurisdictions that have substantially implemented the OECD’s internationally agreed tax standard on exchange of information. With Bermuda and Mauritius already on the OECD’s white list, each of the prime jurisdictions which Conyers advises on has now implemented the international tax standards agreed at the G20 meetings earlier this year.

The Cayman Islands signed its 13th tax information exchange agreement (TIEA) last week with New Zealand, having also signed agreements with Denmark, Faeroe Islands, Finland, Greenland, Iceland, Ireland, Norway, Sweden, the Netherlands, the United Kingdom and the United States of America.

The British Virgin Islands signed its 12th TIEA with New Zealand last week, and plans to conclude similar agreements in the near future. The British Virgin Islands has already signed agreements with Australia, Denmark, Faeroe Islands, Finland, France, Greenland, Iceland, Norway, Sweden, the United Kingdom and the United States of America.

In June, Bermuda was elevated to the OECD White List, and has agreements in place with Australia, Denmark, Faeroe Islands, Finland, Germany, Greenland, Iceland, the Netherlands, New Zealand, Norway, Sweden, the United Kingdom and the United States of America.

Conyers has always been committed to working in jurisdictions that exemplify and reflect the quality of the firm. The OECD’s recognition of these four jurisdictions underscores the legitimate and significant role they play in international transactions. Their position on the OECD White List acknowledges these jurisdictions’ diligent efforts to maintain international best practice in financial regulation and enhances their reputation as world class financial services centres.

Advising on the laws of Cayman Islands, British Virgin Islands, Bermuda and Mauritius, Conyers Dill & Pearman is proud of the role it has played in ensuring that each of these offshore financial centres has attained this recognition.



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