BENEFICIAL OWNERSHIP TRANSPARENCY BILL, 2023

Beneficial Ownership Transparency Bill, 2023, Cayman Islands



On August 30, 2023, the government of the Cayman Islands published the Beneficial Ownership Transparency Bill 2023, expanding the country’s anti-money laundering (AML) commitments by enhancing and consolidating its existing beneficial ownership legislative framework. The bill is intended to fulfill the commitment made by the Cayman Islands in 2019 concerning the introduction of public registers of beneficial ownership information and help prepare for the fifth round of the Financial Action Task Force (FATF) evaluation process due in 2025.