News and Insights

The Government of Jersey is currently considering a proposal to allow greater access to beneficial owner information of companies registered in Jersey.

Beneficial owner information details who the ultimate beneficial owner of a Jersey company are. This information is not currently publicly available, although it is accessible by regulatory and law enforcement bodies.

So why consider changes now?
What is driving government to consider more transparency around beneficial ownership? The simple answer is that the world is changing, financial crime is more complex than ever and anonymity around ownership makes committing it easier. Transparency is both a deterrent and a defence to financial crime. i.e. it is difficult to launder money when it is easier to trace the monies to its final destination.  

If transparency helps prevent financial crime, why is government even seeking feedback on this consultation?
The reason is an individual’s right to privacy. Not every company owner is a money launderer or terrorist and so there is a balance to be found between preventing crime and trampling upon privacy. Government is trying to find this fine line.

The consultation ends today. You can give your views by following the instructions at: Obliged Entity Access to Information (gov.je).