Further to our client update in April 2018 in respect of new legislation enacted on 23 March 2018 regarding Bermuda’s introduction of beneficial ownership registers, the Bermuda Government has extended the transitional deadline from 24 September 2018 to 15 December 2018. The Ministry of Finance is expected to issue guidance notes on the beneficial ownership requirements.
For all existing Bermuda entities, it is important to assess whether the new legislation is applicable or if an exemption applies. Marbury has already contacted affected Bermuda clients to confirm their next steps as appropriate.
If you have any queries about the new legislation please contact your usual Marbury advisors or get in touch via email@example.com.