Category: Compliance
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FATCA & CRS – Reporting Obligations and Key Considerations
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FATCA and CRS reporting deadlines are fast approaching for Cayman Islands entities. Our latest article outlines who must report, what information is required, and key 2025 deadlines. Learn how to stay compliant and avoid enforcement action from the DITC. Read the full guide to ensure your filings are accurate and on time.
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Changes to the Seychelles IBC Amendment Act – Filing of Register of Members and disclosure of Nominee Shareholding
The Seychelles Financial Services Authority has recently announced policy changes which relate to amendments to the Seychelles International Business Companies Act. Companies must now record and file details of nominee shareholders and their nominators, ensuring compliance with new disclosure requirements. Nominee shareholders are required to submit a written declaration, confirming their nominee status and disclosing…
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Upcoming Regulatory Inspections Underscore the Importance of KYC Compliance
As regulatory oversight intensifies, service providers must remain vigilant in their customer due diligence (CDD) processes to ensure compliance with evolving inspection standards.
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FAQs: BVI Register of Members (ROM) and Register of Beneficial Ownership Filings (BOR)
In relation to the Amendments to the BVI Business Companies Act: Changes to Beneficial Ownership Regulations and the new Register of Members and Register of Directors Filing Requirements, we have compiled a list of frequently asked questions Marbury’s Comsec and Compliance Teams have encountered when assisting clients to review and update their new Register of Members (ROM) and…
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BVI Approved Manager MLRO Requirements
In order to ensure compliance with the BVI’s anti-money laundering regime, Approved Managers are required to appoint a money laundering reporting officer (MLRO) and implement appropriate policies and procedures for adoption on an ongoing basis.
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Seychelles Annual Review of Beneficial Ownership Information
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Further to the regulatory changes implemented through the Beneficial Ownership (Amendment) Regulations 2023 as detailed in our previous update(s), from 1 January 2025 onwards Regulation 13 requires Seychelles entities to verify their Beneficial Ownership information at least once per calendar year to ensure filed records are accurate.
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Cayman Islands Beneficial Ownership Regime Update: Access Restrictions, Legitimate Interest Access and Beneficial Ownership Transparency
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The Cayman Islands has recently established a comprehensive framework for accessing beneficial ownership information based on legitimate interest and for protecting such information from disclosure. These updates enhance the existing beneficial ownership regime and ensure compliance with evolving beneficial ownership reporting requirements. They also reinforce robust access restrictions and Legitimate Interest Access protocols, as mandated…
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Amendments to the BVI Business Companies Act: Changes to the Register of Members and Register of Directors Filing Requirements
Recent legislative amendments to the Business Companies Act, effective 2 January 2025, have introduced several changes to the filing requirements and deadlines for companies within the BVI. Key updates include amendments to the Register of Members and the Register of Directors, alongside changes to the notification and filing of beneficial ownership information.
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Amendments to the BVI Business Companies Act: Changes to Beneficial Ownership Regulations
Recent amendments to the Business Companies Act have introduced several new requirements to align with international compliance standards. The Business Companies and Limited Partnerships (Beneficial Ownership) Regulations (the BO Regulations) aim to enhance transparency by mandating certain obligations for companies. The first of these changes is set to commence from 2 January 2025, necessitating the…
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Important Update: Filing of Annual Returns for BVI Companies
The deadline for the first filing of annual financial returns (AFRs) by companies incorporated or registered in the British Virgin Islands (BVI) is Monday, 30 September 2024. On 26 September 2024, the BVI Financial Services Commission (the Commission) announced that due to policy and logistical issues in ensuring full compliance for the first return deadline,…