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Cayman proposes changes to LLC Act: no filing for member updates, mandatory registers at offices, and updated beneficial ownership compliance rules.

New Cayman regulations require valid ID for UBO filings. Update registers within 1 month of changes or risk penalties. Contact Portcullis for assistance.

Cayman’s Companies Amendment Act 2021 takes effect 31 Aug, separating restructuring from liquidation and easing director access to both processes.

New UK law mandates overseas entities, including BVI companies, to register property ownership or face fines and penalties. Register launch date pending.

Congratulations to Tun (Dr) Hashim Mohd Ali on receiving the SSM award and title ‘Tun’ from His Majesty the Yang di-Pertuan Agong on 6 June 2022.

CIMA reminds regulated entities to test third-party reliance on nominees/introducers and retain full CDD responsibility under AMLRs.

All Seychelles IBCs must file directors’ service addresses by 5 Aug 2022 or face penalties up to USD10,000. Early bird update fee available until 30 June.

MAS updates 13O and 13U tax incentive schemes for family offices, introducing new AUM, staffing, and local investment requirements.

BVI Premier arrest and Inquiry Report raise concerns, but financial services remain unaffected. BVI FSC affirms strong governance in latest statement.

CRS and ES enforcement actions will begin soon in the Cayman Islands. Entities must ensure timely compliance to avoid penalties.

The DITC Portal now allows Cayman FIs to deactivate their registration and updates CRS correction rules to align with OECD standards.

Fusang Exchange is now a BVI-recognised exchange, streamlining digital listings for BVI companies with faster, AML-compliant market access.

Explore cash-flow investment solutions with Portcullis Investment Office. Next intake: Feb 1, 2022. Email investorrelations.io@portcullis.co.

Reminder: Submit accounting records and financial summary to avoid USD10,000 penalty. Non-compliance halts company renewal. Deadlines apply.

SRC survey required for Seychelles entities in MNE Groups. Complete and submit the form by deadline to avoid a SR50,000 penalty.

Seychelles companies must submit bi-annual accounting records or face penalties. Requirements depend on size and activity. Deadlines: 31 Jan & 31 Jul.

Cayman Islands reminds companies to update beneficial ownership info within 30 days of changes or face fines. Over 300 penalties issued in one year.

BVI enforces the Data Protection Act, 2021—ensuring rights to access, correct, or delete personal data, with strong compliance and security measures.

Cayman plans LLP law updates to support partnership conversions and clarify registration for public accounting firms. Industry consultation due Q3 2021.

New Seychelles laws require companies to keep accounting records locally. Learn about deadlines, compliance, and how Portcullis can assist.

Fusang Exchange launches Asia’s first licensed digital stock exchange for retail investors, offering IPOs with blockchain-native shares and 24/7 access.

Cayman expands Economic Substance to partnerships; key updates on CRS/FATCA, filing duties, and deadlines for funds and financial entities.

On 3 June 2021, the Cayman Islands DITC issued updates on Economic Substance Practice Points. Stay informed on key clarifications and compliance expectations for relevant entities. Read the full details via the official DITC circular.

Effective 12 May 2021, the Seychelles FSA has implemented remote procedures for IBC registry services due to COVID-19. Transactions such as incorporations, M&A stamping, and certificate issuance will be processed via email to minimize face-to-face contact.

Cayman Financial Institutions must appoint a Principal Point of Contact and Authorising Person for CRS/FATCA reporting via the DITC Portal. Compliance reviews begin April 2021. Review classification and obligations to avoid penalties.