Mishcon de Reya LLP’s Post

There are many legal changes afoot currently that are of particular relevance to foreign investment into the UK, of which this is just one - important for those holding UK property through offshore structures.

Did you know the Cayman Islands’ Beneficial Ownership (BO) Regime is closely linked to the UK's push for greater transparency? As a British Overseas Territory, the Cayman Islands operates with autonomy, but the UK still plays a significant role in shaping its regulatory landscape. On July 1, 2017, the Cayman Islands implemented its Beneficial Ownership Regime following UK pressure. This was part of a global effort to combat money laundering and financial crimes. The centralized beneficial ownership register is accessible to law enforcement, including UK authorities, but not publicly available. 💡 A key update: the Cayman Islands Beneficial Ownership Transparency Act came into force on July 31, 2024, aligning with global transparency standards. However, the Ministry has confirmed that enforcement of obligations will not begin until January 1, 2025, giving companies time to comply. 🗓️ Reporting deadlines: Companies in the Cayman Islands must update their beneficial ownership information annually or whenever there’s a change, ensuring that authorities always have accurate data. This ongoing dialogue between transparency and privacy reflects the evolving global standards in financial services. #BeneficialOwnership #Transparency #CaymanIslands #UKRegulation #FinancialServices #AML #Compliance

Have you signed up for our upcoming webinar on the Cayman Islands' new beneficial ownership regime? Register here: https://okt.to/Vh02qp With the new legislation in effect this month, discover some of the biggest changes in the BOR framework in Cayman. #FinancialServices #ApexGroup #Webinar #CaymanIslands #CaymanFinance #BOR #BeneficialOwnership #Cayman #funds #hedgefunds #partnerships #limitedpartnerships #trusts #generalpartners #corporates #BeneficialOwnerInformation #regulation #compliance #ROC

The Cayman Islands is introducing a modernised beneficial ownership regime to combat financial crime and enhance transparency. In this article, Kendra Foster and Nathaniel Luker explore the key changes under the Act and its implications for businesses in the Cayman Islands. https://lnkd.in/eG6gxnr7 #BeneficialOwnership #Cayman

Government Seizure: What to do?#ForeignInvestmentBreaches #GovernmentSeizure #ISDSProtocols #InvestmentDisputes #RiskManagement #TradeAndCrime #ArbitrationProcess #InternationalInvestmentLaws #InvestmentTreaty #InvestorProtection #GovernmentRelations #ClimateChangeMitigation #EconomicImplications #ArbitrationProtocol #InternationalTradeNorms

Later this year Cayman will introduce a modernised beneficial ownership regime. Important to be aware given these changes will impact a broad spectrum of entities including; companies, LLC and partnerships. Kendra Foster and Nathaniel Luker, from Ocorian Law (Cayman), outline the key changes you should be aware of.

I am unable to confirm my current location, nor the name of the barber that did this to me . . . we signed a confidential settlement agreement 😉😉😉 it was a just & equitable separation. For those of you visiting [⚔️secret location] this week, we are thrilled to have so many overseas guests to this amazing financial powerhouse. Sorry about the weather. Can you guess the location? ⌚️BVI, Cayman Islands and Bermuda have played a significant part in facilitating access to international money markets here . . . which dovetails nicely into what happens at the end of honeymoon period 👰♀️🤵when litigation is needed - see what I did there? 🎉🎈 📞Sometimes only a winding up on the just and equitable ground will do. Facing that reality should come sooner rather than later. 👋 The offshore just and equitable remedy is a powerful tool, in the right circumstances for oppressed shareholders. There is considerable potency in seeking to wind up a company where there is no chance of the company continuing. It brings finality to mismanagement and misconduct, and places an independent liquidator in charge of investigations, collection of assets and fair distributions. See our Harneys article for more details https://lnkd.in/gPM2pt_p #BVI #Caymanislands #bermuda #offshorelitigation #shareholderdisputes

🇻🇬 The UK government is stepping up efforts to increase transparency in property ownership. New amendments to the Register of Overseas Entities will make trust information associated with overseas entities publicly available, aligning with the Trust Registration Service. While these measures aim to tackle illicit activities and enhance accountability, safeguards remain in place for individuals who may be harmed by disclosure. This is a significant step toward a more transparent and trustworthy UK property market. Learn more about what these changes mean here 👉 https://lnkd.in/ef4gvb6C

On 11 October 2024, the Cayman Islands Ministry of Financial Services and Commerce announced that it is seeking public feedback on two key regulations under the Beneficial Ownership Transparency Act, 2023. See more in this blog post. #caymanislands #beneficialownership #bota

Andrew Rafferty, Director, Real Estate Services, recently spoke to Financier Worldwide about, strengthening corporate transparency, investor confidence and the fight against money laundering in the UK. In this article, Andrew highlights the synergies between the Economic Crime and Corporate Transparency Act (ECCTA) 2023 and its predecessor, the Economic Crime Transparency and Enforcement Act 2022, how one builds on the other and how the latest legislation moves the needle on prosecuting corporate economic crimes. Read the article in Financier Worldwide here 🔗 #ECCTA #Compliance #FundAdministration