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Jersey Says A Third Of Beneficial Owner Returns Outstanding

by Jason Gorringe, Lowtax.net, London
14 June, 2017

Jersey's corporate regulator, the Jersey Financial Services Commission, says 35 percent of beneficial ownership and control returns due by June 30, 2017, have yet to be filed.

Jersey-registered companies must submit a statement of beneficial owners and controllers, also referred to as a C17S form. This is to satisfy the agreement signed between the island and the UK in 2016 enabling, on request and in appropriate circumstances, the sharing of highly sensitive information to trusted international law enforcement and tax authorities.

The island's Companies Registry says it has so far received 5,438 C17S submissions from local residents, leaving an estimated 2,985 outstanding.

Julian Lamb, director of the Companies Registry, commented: "We urge all those outstanding companies to comply with this legal requirement by submitting their information by June 30. This is an island mandate and meeting this deadline is vital to upholding Jersey's reputation and our leading position for beneficial ownership transparency."

To assist islanders with completing the C17S form, the Companies Registry is running additional out-of-hours "drop in" sessions, in addition to its sessions within normal business hours.


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