The Government of the British Virgin Islands has reiterated its commitment to working toward establishing a publicly accessible register on the beneficial ownership of companies.
Guernsey’s financial services regulator has signed a Memorandum of Understanding with the UK’s Financial Conduct Authority to ensure market access for Guernsey investment funds into the UK after Brexit.
The UK Parliament’s Economic Affairs Finance Bill Sub-Committee has proposed that provisions should be stripped from the Finance Bill that would extend the time limit on assessing offshore tax to 12 years.
The Premier of the British Virgin Islands, Orlando Smith, says his Government has appointed legal counsel to advise on a potential challenge to the UK’s move to force its Overseas Territories to set up publicly accessible registers containing information on the beneficial ownership of legal entities.
The UK’s 14 Overseas Territories must bring in publicly accessible registers concerning the beneficial ownership of legal entities or face having them imposed by the UK, following Royal Assent to the UK Sanctions and Anti-Money Laundering Act 2018 on May 23, 2018.