Future Plans For Bermuda Public Beneficial Ownership Register

Bermuda has collected and maintained information concerning beneficial owners of Bermuda registered entities for over 70 years and the Bermuda Government committed to making beneficial ownership information public, when public beneficial ownership registers became a global, international standard. Further to a press statement on 12 July 2020, the Minister of Finance stated that the Bermuda Government plans to table legislation by January 2023, twelve months from the publication of the European Union fifth Anti-Money Laundering Directive anticipated on 5 January 2022, to make the beneficial ownership register currently maintained by the Bermuda Monetary Authority, accessible to the public.