Changes To Cayman Islands Corporate Disclosure Requirements

Changes to certain corporate disclosure requirements in the Cayman Islands became effective on 8 August 2019 (or at a later stage as noted below) pursuant to the Companies (Amendment) Law, 2019 and the Limited Liability Companies (Amendment) Law, 2019 (Amendments).

The Amendments make certain information relating to companies and limited liability companies more accessible and increase penalties for those who fail to fulfil the requirements of the beneficial ownership registration.

The Registrar of Companies in the Cayman Islands is required to provide information upon receipt of a written request from the Anti-Corruption Commission, the Cayman Islands Monetary Authority, the Financial Crimes Unit of the Royal Cayman Islands Police Service, the Financial Reporting Authority, the Tax Information Authority and any competent authority (as defined in the Proceeds of Crime Law) which is assigned responsibility for monitoring compliance with money laundering regulations