Cayman Islands Beneficial Ownership Regime Update

Since our Cayman Islands Beneficial Ownership Regime Alert in May 2017, the Cayman Islands Government has amended the beneficial ownership regime under the Companies (Amendment) (No. 2) Law, 2017 and the Limited Liability Companies (Amendment) (No.3) Law, 2017¹ and has issued further regulations under The Beneficial Ownership (Companies) (Amendment) Regulations, 2018² and The Beneficial Ownership (Limited Liability Companies) (Amendment) Regulations, 2018 (together the "Amending Laws"). The Amending Laws modify who must comply with the beneficial ownership regime and impose new filing obligations on out of scope companies. Consequently, all companies and limited liability companies ("companies") registered in the Cayman Islands should review their obligations under the beneficial ownership regime and ensure that they are in compliance by the deadline of 30 June 2018.