On 2 May 2019, the Cayman Islands Department of International Tax Cooperation published the Economic Substance for Geographically Mobile Activities Guidance, which has been issued pursuant to the International Tax Co-operation (Economic Substance) Law 2018 that was approved in December 2018 and entered into force on 1 January 2019.  The guidance provides a summary of the economic substance law and regulations to support understanding of the law's scope and how to comply. This includes the economic substance test, which requires that a relevant entity conducting a relevant activity: Conducts Cayman Islands core income generating activities in relation to that relevant activity;...