The Guernsey government’s Policy and Resources Committee has published a consultation paper containing detailed proposals for establishing a central register of beneficial ownership of companies. There are no plans for the register to be open to the public, as Guernsey’s chief minister confirmed in a letter to the UK prime minister in April.
Commenting on the paper, Guernsey law firm Collas Crill notes that it ‘appears to have lifted a chunk of the UK legislation governing the framework for the PSC Register, especially in the control test’. However, Collas Crill says ‘is not in Guernsey’s interest to adopt the UK approach’, preferring instead the Jersey model. See www.bit.ly/1UCJQrZ.
The Guernsey government’s Policy and Resources Committee has published a consultation paper containing detailed proposals for establishing a central register of beneficial ownership of companies. There are no plans for the register to be open to the public, as Guernsey’s chief minister confirmed in a letter to the UK prime minister in April.
Commenting on the paper, Guernsey law firm Collas Crill notes that it ‘appears to have lifted a chunk of the UK legislation governing the framework for the PSC Register, especially in the control test’. However, Collas Crill says ‘is not in Guernsey’s interest to adopt the UK approach’, preferring instead the Jersey model. See www.bit.ly/1UCJQrZ.
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