News: Cayman Islands Made Companies Register Public

The amendments to the Cayman Islands Companies Act entered into force on October 1, 2020. Now, the register of companies in this jurisdiction has become public. Previously, the Cayman Islands did not provide information about the legal entities registered in their territory, which is why the jurisdiction was blacklisted in different countries. The amendments have been made in line with FATF recommendations, and the public register will allow the Cayman Islands to exit the EU's blacklist.

The companies register has become public, but the users will have to pay a state fee to obtain information about legal entities. The state fee amounts to 61 USD. In the register, you can get information about the company’s name, legal address, amount of the authorized capital, information about its founders, effective date of the incorporation contract, number of the legal entity in the register, as well as obtain information about the company’s activities.

However, so far there are no strict requirements for legal entities to maintain the relevance of data. Therefore, the information in the register may be outdated.

Law & Trust offers legal services to its clients working in the Cayman Islands. We will tell you what will change after the amendments enter into force and will provide any necessary legal support in case of violation of the client's legal rights.