The Cayman Islands has entered into a proposed Tax Information Exchange Agreement (TIEA) with the Netherlands.
The proposed deal was announced on Thursday.
The signing is another effort on behalf of the Cayman Islands to come off the Organization for Economic Cooperation and Development's (OECD) grey list.
The list indicates jurisdictions that have committed to the internationally agreed tax standard, but have not substantially implemented them.
Signing TIEA's is a way of moving from the grey list to the white list.
Earlier this week Cayman signed a TIEA with Ireland.