The 60-second version
Cayman Islands custody exit needs sell holdings, tax summary, depot termination, and USD SWIFT to NRE before India tax residency.
Redeem fund units before depot closure — Cayman Islands may not tax capital gains but India may on sale
CIBC Custody / Maples Fund Services provide offshore fund and bond custody — obtain annual holding statement before termination.
Plan sell orders 30+ days ahead — USD settlement must clear before linked bank closure.
Bank lane: Cayman Islands bank guide after custody zero.
Cayman Islands custody wind-down
| Account | Currency | Step |
|---|---|---|
| CIBC Custody | USD | Redeem + close |
| Fund admin | USD | Redemption confirm |
| Linked bank | USD | Close after depot |
| NRE | INR/USD | SWIFT receipt |
Closure
Inventory
List holdings.
Redeem
Sell funds/bonds.
Tax stmt
Admin summary.
USD wire
SWIFT to NRE.
Schedule FA
Last FY asset.
Flow
Cayman Islands custody kit
- Holding stmt.
- Redemption confirms.
- Closure letter.
- SWIFT.
- Passport copy.
Need help with Banking?
Share your blocker in one line. Our experts will reply with practical next steps.
Carried interest
Hedge-fund carried interest units may need separate administrator exit — do not assume bank custody holds all economics.
Quick visual
Animated decision map
Community signal
What to watch in real discussions
Search community threads for the exact phrase, then treat repeated complaints as risk signals rather than official advice.
Open nofollow community search ->Interactive checkpoint
Turn this guide into a decision file
0 of 4 checked
Local CG tax?
Cayman Islands typically has no personal CG tax — India taxes on sale if resident in overlap year.
Schedule FA?
Declare foreign financial asset in last FY held.
FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
vs bank?
Close bank after custody zero — see Cayman Islands bank guide.
Form 8938?
US person — FATCA if specified foreign financial asset thresholds met.
Trust custody?
Trustee must sign if legal owner is trust.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.