Change In Beneficial Ownership Definitions: Cayman Islands

The requirements for filing of beneficial ownership information for Cayman Islands companies will change with effect from 15 May 2020 in two respects due to international requirements. These changes are expected to affect a relatively small number of companies.

Note: if you have already notified us that your company is out of scope you can ignore this (see page 6 of https://www.campbellslegal.com/ubo/explanatory-notes.pdf as to which companies are out of scope).

Please review the summary at 1 and 2 below to determine whether your company is affected and, if so, complete and return to us the relevant form.

(1) The threshold for an individual to be recorded as a beneficial owner has been reduced from more than 25% to 25% or more.