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Review of transparency of beneficial ownership of companies

DepartmentOffice of the Chief Executive
Start date03/02/2014
End date30/04/2014
Type of consultationOther
Deadline for comments30/04/2014

About the consultation

​​To ensure that the international requirements of adequate, accurate and current information on beneficial ownership is met most effectively Jersey has put in place a process which includes:

  • an active company registry staffed by experts that not only calls for information on beneficial ownership on incorporation but also runs that information through independent checks and also has the power to refuse incorporation when the activities / beneficial owners are considered ‘sensitive'
  • a tight definition of beneficial ownership
  • the licensing and active supervision of trust and company service providers with requirements to ensure that information on the beneficial ownership of the companies they administer is adequate, accurate and current
  • strict limitations placed on who may apply to incorporate a company
  • legislation to ensure that, in accordance with the international obligations entered into, the information that is available can be readily provided to tax authorities and law enforcement authorities when sought
  • a power to strike off a company where it is no longer provided with any company administrative, trustee or fiduciary service by a trust and company service providers
As part of a review of Jersey’s beneficial ownership legislative framework the consultation sets out a number of questions which it is seeking Islanders comments on.
 

How to submit comments to the consultation

​If you have any comments you wish to submit to the consultation write to us:

Colin Powell
Chief Minister's Department
Cyril Le Marquand House
PO Box 140
St Helier
Jersey JE4 8QT

Email the Chief Minister's Department

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