Joint statment on Beneficial Ownership

19 June 2019

The Chief Ministers of Guernsey and the Isle of Man, and Jersey’s Minister for External Relations, today met with UK parliamentarians in London, to discuss the joint commitment made by the islands to move towards the implementation of public registers of beneficial ownership.

The commitment has been welcomed across the UK political spectrum.

The Prime Minister, Theresa May, in response to a question by Nigel Mills MP commented during Prime Minister’s Questions: "I’m very pleased to see the announcement today from Jersey, Guernsey and the Isle of Man and indeed we continue to work with the Overseas Territories to ensure that they do follow those standards and open those books, so that people can see who is actually owning those companies."

Following a series of meetings, the Ministers issued the following statement:

"Our joint commitment was broadly welcomed by the parliamentarians we met with today and generally accepted as a proactive step to ensure that the Crown Dependencies remain among global leaders in matters of transparency and financial services regulation.

"We had frank and constructive discussions about the implementation of the commitment and the indicative timetable we have outlined. We will continue to engage with a broad range of stakeholders, including local industry, UK parliamentarians, and European partners."