BENEFICIAL OWNERSHIP REGISTERS IN CROWN DEPENDENCIES TO BE MADE PUBLIC

On 18 June, it was reported that the beneficial ownership registers, currently only accessible by local authorities in the UK’s Crown Dependencies, and which show the ultimate owner of a company, are to be made available to the EU, businesses, and the general public by 2023.  In 2021 the Dependencies plan to merge their registers with their EU equivalents; in 2022: businesses will be given access in order to do their “due diligence”; and in 2023 the governments of Guernsey, Jersey and the Isle of Man will bring legislation before their parliaments to make their registers publicly available.

https://www.bbc.co.uk/news/world-europe-guernsey-48677083

https://www.manxradio.com/news/isle-of-man-news/crown-dependencies-to-improve-beneficial-ownership-transparency/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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