Further to our previous advisories on this topic, the Cayman Islands beneficial ownership regime is in force and steps need to be taken by all companies and limited liability companies.

The regime mandates that all Cayman Islands companies and limited liability companies must establish and maintain a non-public register of beneficial owners, unless they fall within an exemption.

Exempt companies and limited liability companies are required to provide their corporate services provider with written confirmation of the applicable exemption.

Failure to comply by 30 June 2018 may result in financial penalties against the company and its directors, as well as restrictions on the transfer of shares.

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.