Registrar of Companies Enforces Cayman’s Beneficial Ownership Regime

Registrar of Companies Enforces Cayman’s Beneficial Ownership Regime

As of 1 February 2021, the RoC had levied 19 administrative fines – at a rate of $5,000 per fine – against companies for noncompliance with beneficial ownership (BO) requirements. Head of Compliance Paul Inniss noted that warning letters were sent to the companies...
Deadline for Entity Changes Extended, Annual Fee Penalty Clarified

Deadline for Entity Changes Extended, Annual Fee Penalty Clarified

Industry is advised that the Registrar of Companies has extended the deadline for entity changes and clarified the penalty in effect for late payment of annual fees. Entity Changes Persons have until 31 May to submit late filings, without incurring penalties, for...
Annual Fees Deferred

Annual Fees Deferred

As of 26 March, the Cayman Islands Government has deferred the obligation to pay annual fees until 30 June for corporate entities registered in the Cayman Islands. This fees deferral applies to all companies, including limited liability companies and foundation...
Extensions Given for Annual Returns and Economic Substance Notifications

Extensions Given for Annual Returns and Economic Substance Notifications

The Registrar of Companies (ROC) and the Department for International Tax Cooperation (DITC) have extended the deadlines for entities to complete their annual returns and economic substance notification filings. The annual return filing deadline has been extended...
Financial Services Update

Financial Services Update

Industry is advised that the Ministry of Financial Services is addressing a number of matters in the coming days as part of its business continuity plans in the face of the coronavirus (COVID-19) pandemic. Virtual Assets and Administrative Fines Consultations Extended...