Cayman Finance Supports Beneficial Ownership System Updates with the UK

Cayman Finance has supported the Cayman Islands Government in its announcement of the signing of an agreement by the UK and the Cayman Islands on enhancements to its existing beneficial ownership system.

Cayman Finance said: “We are pleased the UK Government has recognised that our licensed corporate services provider verified beneficial ownership system is a world class system that provides for due diligence know-your-customer checks that are critical to proper law enforcement authorities conducting legitimate investigations and is superior to other proposed systems.”

The enhancements to this system will ensure proper authorities conducting legitimate investigations can quickly identify all companies that a particular beneficial owner has a stake in without needing multiple requests and that those owners not be alerted to the existence of an investigation.

This publication is for general guidance and is not intended to be a substitute for specific legal advice. Advice should be sought about specific circumstances. 

If you would like further information please contact:

Chris Humphries
Managing Director
Tel:(+1 345) 814 7911
chris.humphries@stuartslaw.com