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Surge expected in beneficial ownership registrations

Business | Published:

GUERNSEY REGISTRY is expecting a surge of activity in the next few months as local companies get to grips with their requirements to register details of beneficial ownership as part of a global commitment.

Registrar of companies Alan Bougourd. (19296038)

The registry has decided to extend the deadline for compliance to the end of February, allowing companies and agents to confirm beneficial ownership arrangements alongside their annual filing commitments at the beginning of the year.

New companies are providing the information alongside their new registration, and Alan Bougourd, the registrar of companies, said progress to date was ‘so far so good’.

Of about 18,000 companies on the register, around 300 have provided beneficial ownership details but Mr Bougourd was confident that would improve significantly towards the end of the year, and particularly from January.

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