An introduction to AEOI Compliance – BVI and Cayman Islands

The global regulatory landscape for Automatic Exchange of information (AEOI) has seen an increased focus on compliance enquiries from Governments and Regulators. This is primarily driven by the ongoing CRS effectiveness review being carried out by the Organization for Economic Cooperation and Development (OECD). Both the Cayman Islands and the British Virgin Islands (BVI) are included in this process and are currently under review.

As a result, staff and directors of financial institutions (FIs) in the Cayman Islands and the BVI, including investment funds, are encouraged to complete training tailored to local regulations. This will ensure they are well equipped to understand and verify compliance by the FI of all applicable AEOI obligations. Although training is not currently mandated in either of these jurisdictions, more recently we have seen the various Authorities request details of training undertaken; for example – the CRS Form released in the BVI in Q1 2025 asks for details of the training program that the FI has in place.

To help your team meet these training requirements under the applicable AEOI legislation, we offer a specialised online training service that is efficient and:

• Customised for All Roles: Suitable for everyone, from investment fund directors to fund administration staff new to AEOI.
• Includes Relevant Insight: Provides practical insights into real-world scenarios and what a full AEOI Service looks like.
• Emphasises Key Elements of the Investment Fund Sector: Focuses on the most important aspects relevant to your industry.
• Regularly Updated: Reflects the latest developments in regulations and practices.
• Supports Compliant Training Records: Aids in maintaining necessary documentation.
• Provides Useful Suggestions: Provides directors with suggested questions to ask service providers at board meetings
• Flexible and Accessible: Can be completed at your convenience on any mobile device or desktop computer, and on a secure online platform, in under an hour.
• Offers Compliance Certification: Participants receive certification upon completion. 

Mourant’s AEOI training is a comprehensive online course which covers either Cayman or BVI AEOI legislation, and practices related to:

• The Common Reporting Standard (CRS)
• Foreign Account Tax Compliance Act (FATCA)
• CRS and FATCA obligations for FIs 

The FATCA CRS training is specific to your jurisdiction of choice and consists of interactive modules with knowledge checks and a closing quiz to complete the training. Learners engage with quizzes, videos, and case studies to deepen their understanding through practical, investment fund-focused content.

For more information, please contact our team at ClientTraining@Mourant.com