The Cayman Islands Government is presenting three bills to further refine and improve the jurisdiction’s beneficial ownership regime.
During the next meeting of the Legislative Assembly, the following bills will be debated:
- The Companies (Amendment) Bill, 2020
- The Limited Liability Companies (Amendment) Bill, 2020
- The Limited Liability Partnership (Amendment) Bill, 2020
The bills provide clarification to the definition of beneficial owner and corporate service provider responsibilities. Additionally, the available exemptions and powers of the Registrar of Companies have been examined and addressed. These changes will strengthen the beneficial ownership regime in the Cayman Islands.