Changes To Beneficial Ownership Regime

• Published date: 04 November 2025
• Law Firm: Appleby
• Author: Mr Jarion Richardson, Brad Adderley and John Wasty

One of the most notable innovations in the Beneficial Ownership Act 2025, which was passed last month in the House of Assembly, is the introduction of an enforcement process that allows companies to act against uncooperative beneficial owners.

Traditionally, enforcement of ownership disclosure has rested with regulators. The new framework changes that dynamic by giving legal persons the power to restrict rights or take other measures if a beneficial owner refuses to provide accurate information.

This approach is intended as a last-resort tool to strengthen compliance, but it also carries practical challenges.

Requiring companies to enforce directly against their owners risks creating conflict within corporate structures and may prove difficult to administer, particularly where ownership is dispersed or contested.

For corporate service providers, who already bear the responsibility of maintaining registers and making filings on behalf of many unregulated companies, these new powers are likely to translate into additional work, more complex procedures, and higher costs of service.

Overlaying this is a strengthened sanctions regime. Companies that fail to maintain accurate registers, or that mishandle the new enforcement responsibilities, face penalties of up to $250,000 and, in serious cases, imprisonment for individuals...