The move follows the end of 2020 ’s decision by UK MPs to require the opening of company registers in overseas territories to public scrutiny by the end of 2020 . Cayman Islands premier, Howard Quayle , likened the requirement to “colonial despotism” and said that the territory was considering legal action to challenge it. About half the companies referred to in the Panama Papers were set up in the British Virgin Islands (BVI), according to Transparency International. parliament also questioned whether such legislation would be constitutional, while others of the BVI ’s at least 20 such territories claimed that implementation of the measures would be extremely expensive.
The move follows the end of 2020 ’s decision by UK MPs to require the opening of company registers in overseas territories to public scrutiny by the end of 2020 . Cayman Islands premier, Howard Quayle , likened the requirement to “colonial despotism” and said that the territory was considering legal action to challenge it. parliament also questioned whether such legislation would be constitutional, while others of the BVI ’s at least 20 such territories claimed that implementation of the measures would be extremely expensive.