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Bermuda Beneficial Owner Verification Requirements Refined

The Bermuda Monetary Authority has just announced a refinement to its policy with respect to the information that it requires on the underlying beneficial owners of a Bermuda company or partnership. Under the previous policy, applicants were required to submit the personal declarations of all ultimate beneficial owners holding a 5% or more interest in the entity, subject to certain exceptions. Under the new policy, the threshold is set at 10%. The shift from the 5% threshold to 10% takes effect immediately.

 

To continue reading full articles in PDF format:
Bermuda Beneficial Owner Verification Requirements Refined

 


David W.P. Cooke
Director

BERMUDA   +1 441 299 4933


Anthony D. Whaley
Director

Bermuda   +1 441 299 4927


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Alerts

Bermuda Beneficial Owner Verification Requirements Refined

The Bermuda Monetary Authority has just announced a refinement to its policy with respect to the information that it requires on the underlying beneficial owners of a Bermuda company or partnership. Under the previous policy, applicants were required to submit the personal declarations of all ultimate beneficial owners holding a 5% or more interest in the entity, subject to certain exceptions. Under the new policy, the threshold is set at 10%. The shift from the 5% threshold to 10% takes effect immediately.

 

To continue reading full articles in PDF format:
Bermuda Beneficial Owner Verification Requirements Refined

 


David W.P. Cooke
Director

BERMUDA   +1 441 299 4933


Anthony D. Whaley
Director

Bermuda   +1 441 299 4927


 

expertise

Corporate


JURISDICTION(S)

Bermuda


International Office(s)

Bermuda