Cayman Islands Quarterly Update - May 2017

Beneficial ownership registers

In April 2017, the Cayman Islands Government met its commitment to the UK Government made a year earlier by enacting a regime requiring Cayman Islands companies to maintain registers of their beneficial owners. The regime has not yet come into force, but is expected to do so by the end of June 2017. The regime has certain regulated and listed company exemptions and generally only applies to ultimate beneficial owners holding more than a 25% interest, together with certain entities through which their interest is held.

Companies for which our service company, CO Services Cayman Limited, provides the registered office can expect to receive a guide to complying with the new regime shortly.