ARTICLE · 08 SEPTEMBER 2021

Public Input Sought For Revamped Beneficial Ownership Legislation

Cayman Islands Government

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Comments are welcomed on Government's proposals to reshape the Cayman Islands' beneficial ownership legislation, including by creating a single act to make the legislation more effective in fighting...

Cayman IslandsGovernment, Public Sector

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Comments are welcomed on Government's proposals to reshape the Cayman Islands' beneficial ownership legislation, including by creating a single act to make the legislation more effective in fighting crime.

The consultation paper, titled Enhancement of the Beneficial Ownership Framework, includes questions for the public to answer. The consultation was issued today, and it will close on Monday, 4 October.

A "beneficial owner" is a person who ultimately owns or controls an entity, although the enti ty may be held in another name.

"This consultation is important, because a strong beneficial ownership framework strengthens our commitment to fight criminality not just locally, but also globally," said Minister of Financial Services, the Hon. André Ebanks.

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