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Expired Documents For Companies In The Cayman Islands

Expired Documents for Companies in the Cayman Islands

Expired Documents for Companies in the Cayman Islands

In order to further enhance the implementation of money laundering and terrorist financing, the Cayman Islands Government passed the legislation to amend the Companies Act (2022 Revision), in particular by amending Section 254(1)(d). The new law means passports that are government-issued cannot be used when expired and a new passport will need to be certified and supplied to the Registrar for identifying the details of the beneficiary owner(s).

In 2022 in the Cayman Islands , amendments were made to the Companies Act clarifying the requirement to file information identifying an individual from their valid and unexpired government issued documents, as part of the required particulars for beneficial ownership purposes. To this end, where a government issued identification document (“ID”) has expired, section 255(3) of the Companies Act of the Cayman Islands applies.

As per section 255 of the Companies Act, the Company has an obligation to keep the Beneficial Ownership Register up to date by acquiring adequate, accurate, and up to date beneficial ownership information from the Registrable Person(s).

Clients who are having a Cayman Company with us and has their passport expired should contact us with a certified passport copy in order to avoid a fine being imposed on your Cayman Company by the Registrar of the Cayman Islands. Each administrative fine is five thousand Cayman Islands Dollars per breach , equivalent to USD6,040 at the current exchange rate. It is imperative that you take notice of an expired passport seriously by updating this with the relevant company service providers. In most cases of banking with a major bank, they also require you to update the expired passport as practically as possible.

If you’d like to discuss this matter with our team , please contact us at for clients in Europe and North America, or at for clients in the Asia Pacific Region.

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