Overseas Territories: Tax Haven Status - Question

Part of the debate – in the House of Lords am 2:36 pm ar 26 Chwefror 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton The Parliamentary Secretary, HM Treasury 2:36, 26 Chwefror 2024

I am grateful for my noble friend’s support for the Cayman Islands, but it is just one of the many different overseas territories. Not wishing to detract at all from his words, I would say that the Cayman Islands is doing well, but I think it can do better. For example, the beneficial ownership register that the Cayman Islands is planning to put in place will still have a legitimate interest access filter. We believe that that is an interim step, and we would like to see fully open registers of beneficial ownership as soon as that can be implemented.