HSM LAW
Cayman Kind and Compassion: A Question for the Caymanian Status and Permanent Residency Board
Over the past 24 months, HSM Chambers have dealt with two cases involving individuals who obtained the Right to be Caymanian through marriage. In both cases, the Caymanian spouse subsequently passed away before three years had elapsed from the grant Read more +
Cayman Immigration: Section 64 Update
In a press release dated 15 April 2026, the Ministry of Caymanian Employment and Immigration announced: ”The Immigration (Transition) (Amendment and Validation) Act, 2025 introduces updated rules for work permit holders changing jobs, effective 1 May 2026. Work permit holders Read more +
HSM Tribute to Oscar DaCosta
It is with deep sadness that we mark the passing of our much‑loved colleague and friend, Oscar DaCosta, who died this weekend past following a courageous battle with brain cancer. Oscar obtained an LLB (Hons) Degree from the University of Read more +
The ‘X Trusts’ Case – The Privy Council Confirms Protectors May Have a Substantive Fiduciary Role
On 19 March 2026, the Judicial Committee of the Privy Council delivered its judgment in A and Ors (Appellants) v C and others (Respondents) [2026] UKPC 11, overturning the Bermuda Court of Appeal and holding that the protectors of the Read more +
Industry Update: Cayman Islands “Blacklisting” by the European Union
The European Union has on the 18th of February, ‘blacklisted’ the Cayman Islands as a non-cooperative jurisdiction for tax purposes. This action was taken despite concerted efforts of the Cayman Islands Government to comply with every European Union initiative, including enacting more than 15 separate pieces of legislation designed to comply with EU criteria over the past two years alone.
It appears the ‘blacklisting’ arose as a result of two recent pieces of legislation, the Private Funds Law and the Mutual Funds (Amendment) Law which came into force on the 7th of February 2020, however, the passage of these laws came three days later than expected by the European Union’s Code of Conduct Group who met on the 4th of February. On the basis those two particular laws were not yet enacted into law, the European Union’s Code of Conduct Group recommended to the European Finance Minsters that the Cayman Islands be ‘blacklisted’ for failing to “…deliver on their commitment on time..” with respect to such legislation.
The Cayman Islands Government has to date issued two public statements on this matter since the ‘blacklisting’ occurred. They are fully committed to working closely with the European Union to remove the Cayman Islands from the ‘blacklist’ as soon as possible.
If you have any concerns on the above please direct your inquires to Huw Moses, HSM’s Managing Partner at hmoses@hmsoffice.com. We will continue to provide updates as and when they occur, but we do not expect this event to negatively impact our clients and are confident the jurisdiction will be removed from this list in due course.