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Ongoing Beneficial Ownership Obligations

The Registrar of Companies, which is the competent authority for beneficial ownership in the Cayman Islands, reminds industry members of their ongoing obligation to file adequate, accurate and up-to-date beneficial ownership information; and for this information to be updated when material changes have taken place.


This is in keeping with Part XVIIA of the Companies Act; Part 12 of the Limited Liability Companies Act; Part 8 of the Limited Liability Partnership Act; and the Regulations made under those acts.


Between October 2020 and September 2021, the Registrar imposed more than 300 administrative fines for breaches.


Source: Ministry of Financial Services & Commerce


IMS is one of the longest established company management firms in the Cayman Islands. IMS is licensed by the Cayman Islands Monetary Authority to provide independent directors, company management and incorporation, mutual fund administration, captive insurance and trust services. For more information about our services, please contact us.


Disclaimer: this publication does not constitute legal or professional advice and should not be relied on as such.

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