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Publicly accessible registers of company beneficial ownership in the British Overseas Territories
15 July 2020
Type
Written Ministerial Statement
Department
Foreign and Commonwealth Office
At a Glance
Issue Summary
The UK government welcomes commitments from eight British Overseas Territories to establish publicly accessible registers of company beneficial ownership.
Action Requested
The Government will prepare a draft Order in Council by the end of 2020 and considers that the end of 2023 is a reasonable deadline for introducing such registers, while providing assistance through workshops and webinars. The statement also highlights existing measures like Exchange of Notes arrangements and adherence to global tax transparency standards.
Key Facts
- Eight British Overseas Territories committed to establishing publicly accessible registers of company beneficial ownership.
- Anguilla, Bermuda, Cayman Islands, Falkland Islands, Montserrat, Pitcairn Islands, St Helena, Ascension Island and Tristan da Cunha, Turks and Caicos Islands are the eight territories involved.
- A draft Order in Council will be prepared by the end of 2020.
- The Government aims for a deadline of December 2023 for introducing these registers.
- Technical workshops were hosted last July and webinars were held in November.
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