Your Conyers Governance team can assist with all regulatory requirements governing special purpose vehicles (SPVs) registered in the Cayman Islands and other structured and asset finance products, including all offshore governance and fiduciary requirements.
Our services include:
1) Corporate Governance and Administration:
- Providing independent directors to serve on the board of SPVs
- Typical entities and products include: CLOs, Note Programs, Islamic Finance Entities, Aviation and Shipping finance and leasing SPVs
- Performing administrative duties in connection with specified transactions and the related documentation
- Liaising throughout with all transaction parties and legal counsel as required
2) Anti-Money Laundering (AML) Compliance Services:
- Providing named AML professionals to assume the roles of anti-money laundering compliance officer (AMLCO) and money laundering reporting officer (MLRO) for in-scope SPVs
- Developing AML policies and procedures manuals for in-scope SPVs
- Managing the “suspicious activity” reporting process
- Providing AML investor screening services
- Providing AML compliance audits
3) Automatic Exchange of Information (AEOI) Compliance Services:
- Providing an individual to assume the role of Principal Point of Contact (PPoC) on behalf of in-scope SPVs as required by the Cayman Islands Department for International Tax Cooperation (DITC)
- Registering SPVs with the IRS (obtaining a Global Intermediary Identification Number (GIIN)) and with the Cayman Islands DITC
- Providing annual investor reporting services to ensure compliance with all Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) obligations
- Liaising with the Cayman Islands DITC on all FATCA and CRS issues as and when they arise
- Assisting with deregistration at the end of the SPV’s life cycle
4) Share Trustee Services:
- Holding the shares of SPVs on trust in order to facilitate “orphan” or “off balance sheet” and bankruptcy remote structures
5) International Registry Services (Aviation):
- Acting as administrator for both Transactional User Entities (TUEs) or Professional User Entities (PUEs) on the International Registry
6) Representative Person Services (Shipping):
- Acting as representative person for vessels registered with the Cayman Islands Shipping Registry
7) Economic Substance:
- Assisting with completing and filing of annual economic substance notifications to the Cayman DITC
- Assisting with completing and filing of annual economic substance returns to the Cayman DITC for in-scope entities
8) Accounting and Agency Services:
- Providing bookkeeping and financial reporting services
- Preparing management accounts and financial statements
- Liaising with external auditors regarding audited accounts and filings
- Providing authorised signatories for client bank accounts or online banking platforms