About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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Cyprus: Compliance deadline for the Beneficial Ownership Register is approaching
On 28 February 2024, the Registrar of Companies and Intellectual Property (the Registrar) issued a press release urging all companies, including those registered under the Companies Law (Chapter 113), the European Public Limited Liability Companies (SE), the Partnerships (together referred as Organisations) or their officials/partners, to participate in the final version of the Beneficial Ownership (BO) Register electronic system.
28 Mar 2024
UK Crown Dependencies unite in joint commitment to enhance beneficial ownership transparency
On 13 December 2023, the UK Crown Dependencies (Guernsey, Isle of Man, and Jersey) jointly announced a commitment to enhance transparency and access to information on their registers of beneficial ownership. Building on existing cooperation with international authorities, the commitment expands access to financial services businesses and organisations combatting financial crime.
30 Jan 2024
Cyprus extends the deadline for the submission of the UBO details in the new registry of the Registrar of Companies
On 15 December 2023, the Cyprus Bar Association issued a press release to inform its members that the Cyprus Department of Registrar of Companies and Intellectual Property has granted an extension for the submission of the ultimate beneficial owner details of companies and other legal entities in the new companies registry.
29 Dec 2023
BVI affirms its approach to beneficial ownership registers relating to the ECJ’s decision
On 8 December 2023, the BVI Government published a press release indicating it's current position on the much discussed implementation of publicly accessible registers of beneficial ownership (PARBOs).
15 Dec 2023
Cayman widens the net but stops short of imposing public access with new Beneficial Ownership Transparency Bill, 2023
For some years there has been significant focus on whether the Cayman Islands would push through the implementation of a public beneficial ownership register which makes it possible for anyone to find out who is the ultimate beneficial owner of a relevant Cayman entity.
29 Sep 2023
BVI economic substance reporting changes and deadlines
Most companies and limited partnerships registered in the BVI have an economic substance “financial period” of 30 June to 29 June. Reports to the International Tax Authority are due within six months of the financial period end, typically falling around the end of the calendar year.
28 Sep 2023
Cyprus authorities remind entities to submit beneficial owners' data to the register
On 1 September 2023, the Cyprus Department of Registrar of Companies and Intellectual Property issued a notice bringing attention to the mandatory requirement for companies that have been incorporated or registered according to Companies Law Cap. 113, the European public limited liability companies (SE) and the Partnerships as well as their officers/partners, to promptly submit the details and information of their beneficial owners to the Register of Beneficial Owners of Corporate and Other Legal Entities.
18 Sep 2023
CFATF seeks feedback on beneficial ownership methodology revisions
The Caribbean Financial Action Task Force is actively seeking input on its methodology revisions related to Recommendations 24 and 25 concerning beneficial ownership.
13 Sep 2023
Further amendments to the BVI International Tax Authority Act
The British Virgin Islands (BVI) International Tax Authority Act 2018 (as amended, the ITA Act) has been further amended by the International Tax Authority (Amendment) Act 2023, which is effective from 22 March 2023.
04 Apr 2023