BRITISH OVERSEAS TERRITORIES

Sir Nicholas Soames: To ask the Secretary of State for Foreign and Commonwealth Affairs, whether his Department has had discussions with the governments of the British Overseas Territories on the establishment of beneficial ownership registers for those companies incorporated under their jurisdiction; and if he will make a statement.

James Duddridge, Parliamentary Under Secretary of State for Foreign and Commonwealth Affairs: The Prime Minister has made it clear that he would like a publicly accessible central register of company beneficial ownership to be the new international standard.

We have a regular dialogue at both Ministerial and official level with the Overseas Territories with a financial services industry on the establishment of company beneficial ownership registers. We are keeping them informed as the UK policy develops. I visited the British Virgin Islands in October and discussed with politicians and industry the importance of taking action on company transparency.
Territory Leaders are currently in London for the Joint Ministerial Council. I have discussed Financial Services, including company beneficial ownership, with leaders of all Overseas Territories this week.
Bermuda has had a central register of company beneficial ownership since the 1940s.
 
 
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DISSOLUTION OF PARLIAMENT

Parliament has been dissolved until after the General Election on 12th December and there are now no MPs. This website is for reference of my work when I was a Member of Parliament.

I am not seeking re-election.