FATCA could affect 6,000 people living in Cayman

(CNS Business): A seminar focusing on how the US Foreign Account Tax Compliance Act (FATCA) will impact individuals has been set for early next month, and everyone who was born in the US, holds a US passport or a green card, or who has a US address is encouraged to attend and find out more about what they need to do to prepare themselves for compliance. The event will be co-hosted by Cayman Finance and the Financial Services Ministry, which both stress the serious impact the new legislation is anticipated to have on individuals, as well as businesses, in the Cayman Islands. Financial Services Minister Wayne Panton said that while Cayman’s financial services industry has been working diligently to prepare for FATCA, local residents also need to take careful note. Read more on CNS Business