The public is advised that the Companies (Amendment) Bill, 2016; the Companies Management (Amendment) Bill, 2016; and the Limited Liability Companies (Amendment) Bill, 2016 are now available for public consultation.
Comments should be emailed to Policy Advisor Wilbur Welcome in the Department of Financial Services Policy and Legislation, by Thursday, 5 January 2017.
The three bills were published in the 16 December Cayman Islands Gazette. If approved in the Legislative Assembly, the bills will allow the Cayman Islands to develop a centralised platform of beneficial ownership information by 30 June 2017. This is in accordance with an agreement to further enhance the exchange of information between Cayman and UK tax, regulatory and law enforcement officials.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.