Platform for reporting beneficial owners

Published: 06 December 2016

The Cayman Islands government has published a consultation paper on proposed changes in the law designed to implement a centralised reporting platform for beneficial ownership reporting.  Cayman Islands companies, including funds, would be required to engage a local regulated corporate service provider (a CSP) to make reports to the centralised register.  The standards for reporting to the register are meant to mirror the requirements the UK has adopted.  The register would not be accessible by the public, but rather only tax and other authorities.  Comments are due on this by 9 December. If you have any questions in relation to this or would like to contribute to a response, please contact Jennifer Wood.