Cayman Islands Financial Services Seeks Comments on Draft Proposal to Enhance Beneficial Ownership Framework

The Cayman Islands Financial Services Sept. 7 opened a consultation on a draft proposal to enhance the beneficial ownership framework. The draft proposal includes measures that would: 1) establish a central register to allow tax authorities to access beneficial ownership information; 2) expand the scope of the beneficial ownership registry to include exempted limited partnerships and limited partnerships; 3) define beneficial owners and reporting requirements; and 4) enact a single law ensuring effective implementation of the beneficial ownership regime. Comments are due Oct. 4. [Cayman Islands, Cayman Islands Financial Services, 09/07/21]

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