22/10/24

Cayman Islands: New Beneficial Ownership Transparency Act

The Beneficial Ownership Transparency Act, 2023 (the BOTA) was passed on 24 November 2023 and commenced on 31 July 2024, although enforcement is expected to begin in early 2025, with the exact date yet to be confirmed. The BOTA marks a significant milestone in the Cayman Islands’ efforts to enhance corporate transparency and align with international standards and commitments to combat money laundering, tax evasion, and terrorist financing.

Cayman Islands: The State Of E…