Isle of Man considers centralised company ownership registry

Part of the plan will be to assess whether a centralised registry would further improve transparency of the ownership and control of companies in the Isle of Man. Manx Treasury Minister, Eddie Teare said: ‘Establishing the ultimate beneficial ownership behind all account relationships conducted in the Isle of Man is a legal requirement backed by on-site supervision to ensure compliance. Legislation is in place to ensure that full and accurate details are maintained on the true ownership and control of every company, trust and fund in the Isle of Man, and that this information is freely a...