Caribbean Regulatory Update – Q4 2024

This Regulatory Update provides a snapshot of the key legal developments in the BVI and the Cayman Islands over the last quarter – including amendments to the BVI Business Companies Act, economic substance reporting requirements and anti-money laundering legislation in the BVI, and changes to the Cayman Islands beneficial ownership regime.

See below for more details on the topics covered in this Update.

Key BVI Updates in Q3 2024

Amendments to the BVI Business Companies Act

Beneficial Ownership Secure Search System Act amendments

Amendments to the AML Regulations

Amendments to the AML Code

Industry circular – Filing of annual returns

Incoming amendments to financial services legislation

Amendment of Securities and Investment Business Act

AML/CFT/CPF guide for the investment business sector

VASP Travel Rule Guidance

FSC Newsletter: Quarter 3 of 2024

FSC Statistical Bulletin Q2 2024

NPO Terrorist Financing Risk Assessment

Guidance on best practices to protect NPOs from TF misuse

Virgin Islands Shipping and Maritime Authority

TCSP outreach

Extended list of Relevant Foreign Countries for the purposes of Part XIX Insolvency Act

Inaugural BVI Mourant Regulatory Conference

Mourant Guides and Updates

Key Cayman Updates in Q3 2024

Changes to the beneficial ownership regime in force

Proceeds of Crime Act amendments reminder

Amendments to the Perpetuities Act

CIMA’s 2023 Annual Report

Mourant Guides and Updates

For additional information or for any questions, please reach out to your usual Mourant contact or one of the key contacts provided on this page.