Changes to Beneficial Ownership guidance in Jersey
Changes have been made to the beneficial ownership guidance in Jersey. Two key changes have been made to the guidance that being in section 1 and 5.
The changes in section 1 discuss the definition of “beneficial owner” in the law and how the information is recorded in myRegistry.
The other key update is in Section 5 for companies owned by a trust. They no longer need to record the settlor as a controller unless the settlor has retained powers of control, for example, the right to appoint or remove a trustee, to amend the trust deed or to revoke the trust.
A link to the source article can be found here