Crown Dependencies to improve beneficial ownership transparency

Jersey, Guernsey and the Isle of Man have announced they will voluntarily adopt public registers of the true owners of offshore companies incorporated in their jurisdictions. The beneficial ownership registers, which show the ultimate owner of a company, are currently only accessible by local authorities in the UK's Crown Dependencies. Jersey, Guernsey and the Isle of Man said in a joint statement they would bring forward legislation for public access to a central register within 12 months of an EU anti-money-laundering review which is due in January 2022. "We hope to encourage oth...