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ARTICLE · 09 OCTOBER 2025

New Beneficial Ownership Framework

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On 28 September 2025, The Beneficial Ownership Act 2025 (the "BO Act") received Royal Assent and will come into operation once Gazetted.

BermudaCorporate/Commercial Law

On 28 September 2025, The Beneficial Ownership Act 2025 (the "BO Act") received Royal Assent and will come into operation once Gazetted.

Bermuda's new beneficial ownership framework, comprising the BO Act, the Beneficial Ownership Regulations 2025 (the "Regulations") and related Guidance Notes is expected to be published soon and will be implemented on or around 3 November 2025.

Overview of the BO Act

The BO Act includes provisions to (a) enhance Bermuda's current beneficial ownership regime in accordance with the revised Financial Action Task Force international standards, (b) transfer the central register of beneficial ownership information (BOI) from the Bermuda Monetary Authority (BMA) to the Registrar of Companies (RoC), and (c) extend access to the central register to certain competent authorities and "obliged entities".

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