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Legal Update

Practice Note on the New Cayman Island’s Beneficial Ownership Regime

18 September 2017
Fund Finance Market Review - Fall 2017

Under recently passed legislation (the “Regime”), Cayman Islands companies and Cayman Islands limited liability companies (“LLCs”) are now required, unless an applicable exemption applies, to maintain a beneficial ownership register that records details of the individuals who ultimately own or control more than 25% of the equity interests or voting rights of the company or LLC or who have, directly or indirectly, rights to appoint or remove a majority of the company directors or LLC managers.

*Special thanks to Tina Meigh, partner at Maples and Calder, for contributing this article to the 2017 Fall Fund Finance Market Review. The views expressed are the author’s own and do not necessarily represent the views of Mayer Brown.

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