Philip Dickinson

Aug 2, 2024 | mondaq.com | Christopher Capewell |Julian Ashworth |Patrick Head |Philip Dickinson

The Cayman Islands' new beneficial ownership regime was brought into force on 31 July 2024, however, the Ministry of Financial Services and Commerce (the "Ministry") has confirmed there will be no enforcement of the new requirements until 1 January 2025. Thousands of entities will now fall into the scope of the beneficial ownership regime for the first time and those already filing beneficial ownership details will need to review their reporting requirements under the new rules.

Mar 20, 2024 | mondaq.com | Christopher Capewell |Julian Ashworth |Patrick Head |Philip Dickinson

On 24 November 2023, the Parliament of the Cayman Islands passed the Beneficial Ownership Transparency Act, 2023 which was later gazetted on 15 December 2023 (the "Act"). Although, the Act is not yet in force, the new provisions are expected to be introduced very shortly in a phased approach throughout the course of 2024. Once in force, the Act will bring fundamental changes to the existing Cayman Islands beneficial ownership regime (the "BOR").

Jan 24, 2024 | mondaq.com | Suzanne Correy |Philip Dickinson |John Dykstra

Over the last 24 months, a significant proportion of M&A transactions involving Cayman Islands vehicles have involved a financial sponsor as either a buyer or seller, and in a number of cases, both, following the general global trends.