Before you can file your annual return you must first file the beneficial ownership information and wait for approval from the Registry.
- On the “dashboard”, click on “Service”
- Select “Annual Return” from the drop-down box
- Click on “New Service”.
- Once that smart form opens up to the top left you will see “Filing Year” select the year you need to file. The outstanding fee will automatically populate “Annual Fee Due”
- Populate all fields noting that those with the “*” are mandatory:
- “Name of Person Making Declaration”
- “Shareholder Meeting Date
- “Shareholder Meeting Location” (that can just be the district it was held in)
- Address of the company (including PO Box) which can be selected from the dropdown box
- List of all persons who were members of the Company on the fourteenth day succeeding the first General meeting. If this is not automatically populated click on “Add
- then enter the first 3 to 4 letters of your name
- click on “Search”.
- Once the name appears, on the extreme right click on “+” and another window will appear.
- Click on the dropdown boxes and autofill them
- “Postal address”
- “Physical address”
On the right there are 3 boxes, select the one/s that is applicable to each individual. Then populate
- “% of Share”
- “Start Date”
- “End Date” (ONLY if the individual ceased being a shareholder before the 1st of January of the annual return year.). If that is the case then also add that person under *Persons who have ceased to be Members since the last return****Please note this is done for each “Shareholder” on the entity
Directors & Officers
- – Click on “Add” similar to the procedure to add the “Shareholders”. DO NOT enter an “End date” unless the individual ceased being a director/officer before the 1st of January of the annual return year.
Complete ALL three (3) questions at the bottom selecting all that apply to your business.
ALL OF THE BELOW HAVE TO BE ANSWERED BEFORE YOU ARE ABLE TO SUBMIT AND PAY
- SUBMIT AND PAY NOW.
- FOLLOW THE INSTRUCTIONS TO PAY
To retrieve documents filed or requested through CBP please go to “Documents Received” on the portal.
The “END DATE” should ONLY be entered when a person or company ceases to be a beneficial owner. At all times there must be at least ONE beneficial owner.
After logging on to CBP you will be directed to the “Dashboard”
- Go to “Service”
- Click on the dropdown box and select “Beneficial Owners” from the list
- Select “New Service Request” – The window with Beneficial Owners will automatically appear with the information previously entered.
- Set up profile
- Populate “Amount of shares taken to date”
- There is then a box to the bottom left you click on that and then select “Submit Now”.
The amount of shares taken to date is the total amount (sum) of all shares owned by the current shareholders.
The “% of Share” is the amount of that shareholder’s shares divided by the “Amount of shares taken to date” multiplied by 100.
Ensure that the profile is already created then proceed to file:
- Go to the dashboard
- Go to “Service” click on the dropdown box and select “Beneficial Owners” from the list
- Then select “New Service Request”
The window with Beneficial Owners will open. Populate:
- ‘Amount of shares taken to date”
Once your entity verification has been approved you may proceed to create a profile for each individual and or corporate entity in “People and Business”:
- Ensure that IDs for each person or certificate of incorporation (or similar documents) for each corporate entity are scanned to your computer
- When you log in it takes you straight to the “Dashboard”
- Select “People and Business” (to the right)
- then “Add Person” (if the Beneficial Owner is a person), OR “Add Business” (if it is a business)
- Populate all information fields (nothing is optional – even if that is stated
A beneficial owner:
- Holds, directly or indirectly, more than 25% of the shares or voting rights in the company;
- Or has the right to appoint or remove a majority of the company’s board of directors.
- If no individual in the company meets those conditions, the beneficial owner is the person who (directly or indirectly) has significant influence or control over the company, through either direct or indirect ownership. This does not apply if such control is solely in the capacity of a manager, director or adviser. Refer to Beneficial Ownership (Companies) Regulations (2019 Revision)
- Annual Returns
- Companies Register
- Company Search
- Directors & Officers
- Financial Year End
- Information Gathering and Sharing
- Nature of Business
- Register of Members
- Registered Office
- Shares & Shareholders
- Strike Off
Every company is required to keep at its registered office a register containing the names and addresses of its directors, including alternate directors, and officers, and shall:
- Send a copy of such register to the Registrar within sixty days of the first appointment of any director or officer of the company; and
- Notify the Registrar of any change in such directors or officers including a change of the name of such directors or officers, within thirty days of any such change.
For local companies without a CSP as its registered office:
- Register of directors & officer reflecting the new director/officer
- Valid government-issued photo ID
- Resolution appointing director/officer
CSP – updated register of directors and officers
A non-Caymanian can be a director of an ordinary resident company. However, as required under the Local Companies (Control) Act, where business is to be carried out in the islands, there has to be at least 60% of its directors should be Caymanian.