The Cayman Islands Government's recent announcement that
Cayman has joined the initiative for the development of a global
standard for the sharing of beneficial ownership information has
been welcomed by Cayman Finance, saying that the move continues to
reflect Cayman's highest standards of transparency.
Cayman Finance's collaborative relationship with Government
supports enhancements like these to our regulatory and legal
infrastructure to promote even greater transparency with law
enforcement here and around the world. In addition to
supporting the new prohibition on bearer shares and the repeal of
Cayman's Confidential Relationships law and replacement with
new data protection legislation, Cayman Finance has also played a
critical and constructive role in the negotiation and
implementation of the new beneficial ownership agreement with the
UK whilst at the same time seeking to protect the legitimate rights
to privacy of law abiding citizens.
This will build on an already world leading licensed corporate
services provider verified beneficial ownership system that has
been in place for years in the Cayman Islands. This system provides
regulated due diligence know-your-customer checks and operates
transparently with law enforcement globally while maintaining the
critical balance of protecting honest investors' right to
The result of this positive working relationship is that the
Cayman Islands has been recognised for decades as a strong
international partner in combatting corruption, money-laundering
and tax evasion. We have met or exceeded all globally-accepted
standards for transparency and cross border cooperation with law
enforcement and these new actions maintain our leadership in this
Cayman Finance will continue working with our government and
those around the world who pursue practical solutions like these
that also recognize the critical role International Financial
Centres like Cayman play in the global economy.
Cayman Finance's mission is to protect, promote, develop and
grow the Cayman Islands financial services industry through
cooperation and engagement with domestic and international
political leaders, regulators, organisations and media; to promote
the integrity and transparency of the Industry by legislative and
regulatory enactment and to encourage the sustainable growth of the
Industry through excellence, innovation and balance.
Failure to comply with company law in Hong Kong can be very expensive for businesses. In a highly dynamic business and regulatory environment such as Hong Kong, it is challenging for business owners to remain fully aware of the latest legal requirements.
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Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
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