On 28 January 2019, the UK Government (the Government) explained the timetable to the new 2023 deadline for the creation of public beneficial ownership registers in the British Overseas Territories (BOTs). The Government has explained that draft legislation will be prepared by the end of 2020, as required by the Sanctions and Anti-Money Laundering Act 2018 and the BOTs will be expected to have public registers in place by the end of 2023, in line with the Government’s global campaign to make public registers the global norm by then.

The Government also stressed the importance for BOTs to meet international standards on tax transparency and anti-money laundering.

See the Government’s full response here.