Cayman Island Beneficiary Ownership Register (“UBO Register”)

Cayman Island Beneficiary Ownership Register (“UBO Register”)

As previously communicated, the Cayman Islands have introduced the UBO Law which requires Cayman companies to maintain UBO Registers by 29th June 2018.

Companies and other persons including directors and officers that contravene the law commit an offence, and will each be liable to substantial penalties including fines up to USD61,000 and imprisonment for a term of up to two years for breaches of the new requirements.

For further information, please click here for our previous Client Advisory or contact us at caymanubo@vistra.com if you require further assistance in UBO Register filing.