Being a general reminder on housekeeping of your Cayman exempted company / exempted limited partnership (your “Entity”) compliant with the relevant regulations in the Cayman Islands, please take actions to the following matters:
- Notify Sertus any change to the ultimate ownership of your Entity within 30 days of the change with an up-to-date structure chart as supporting;
- Notify Sertus any change of the particulars of the directors/officers/general partners, shareholders/limited partners and UBO (e.g. renewed passport, new residential address, change of entity name, etc.) of your Entity as soon as you are aware of the change to comply with the relevant filing deadlines;
- Late filing of RODO after 30 days of change, penalty is CI$500 with an additional penalty of CI$100 per day for continuous default;
- Non-compliance of keeping up-to-date ROM at the registered office is subject to a penalty of CI$500 and an additional penalty of CI$100 per day for continuous default;
- The General Partner fails to update the Register of Limited Partners (“RLP”) within 21 days of change, the general partner may commit a summary offence liable to a fine of CI$10,000;
- Non-compliance of keeping a copy of the up-to-date RLP at the registered office, the General Partner is subject to a penalty of CI$500 and an additional penalty of CI$100 per day for continuous default; and
- Non-compliance of keeping up-to-date UBO information with the registered agent is an offence subject to a fine starting from CI$25,000 and potential imprisonment.)
- Notify Sertus any change of the nature of activities of your Entity.
(Penalty Note: Failure to disclose is subject to a restriction notice and committing an offence to a fine starting from US$25,000 and potential imprisonment.)
(Penalty Note:
and
We, being a regulated entity, reserve the right to terminate our services if there is any non-compliance of the clients or, due to clients’ non-response, we fail to comply with the relevant regulations.
If you have any questions regarding the above, please feel free to contact your Sertus Client Services Representative or contact us at info@sertus-inc.com.
Disclaimer Kindly note that this notice is not exhaustive but just intended to provide a general reference. This is not a legal advice and should not be regarded as a substitute for a specific legal advice that meet your circumstances. Sertus does not accept any responsibility for any errors or omissions of the contents of this note.