The move follows yesterday’s decision by UK MPs to require the opening of company registers in overseas territories to public scrutiny by the end of 2020. He added that the island territory would take necessary steps to ensure its constitution was respected. Cayman Islands premier, Alden McLaughlin, likened the requirement to “colonial despotism” and said that the territory was considering legal action to challenge it. In a statement on Monday, Appleby said: “We are committed to complying with all applicable laws around tax transparency for our clients worldwide.
The move follows yesterday’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, Alden McLaughlin, likened the requirement to “colonial despotism” and said that the territory was considering legal action to challenge it. In a statement on Monday, Appleby said: “We are committed to complying with all applicable laws around tax transparency for our clients worldwide.