Bermuda Streamlines Its Beneficial Ownership Regime

As part of ensuring compliance with the Financial Action Task Force (FATF) standards on beneficial ownership and transparency, Bermuda has streamlined its beneficial ownership regime. The overall aim of the beneficial ownership regime is to demonstrate continued alignment with global efforts to enhance transparency of legal persons to ensure that accurate and up-to-date beneficial ownership information is available to competent authorities in a timely manner.

While the Beneficial Ownership Act 2025 (BO Act) became operative on 3 November 2025, draft Beneficial Ownership Regulations (BO Regs) and Guidance Notes (BO GN), released in December, are currently open for discussion and industry feedback. As noted in the BO GN, the Government of Bermuda recognises that corporate transparency is fundamental to maintaining Bermuda's reputation as a premier international financial centre.