Registry offers out-of-hours service to help Islanders meet beneficial ownership deadline

The Jersey Financial Services Commission (JFSC) is offering extra assistance to Jersey registered companies to ensure they fulfil their requirements for submitting Beneficial Ownership and Control information to meet the UK Government’s deadline.

Jersey registered companies have until 30 June 2017 to 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 to enable, on request and in appropriate circumstances, the sharing of highly sensitive information to trusted international law enforcement and tax authorities.
With three weeks remaining until the deadline, the JFSC’s Companies Registry has so far received 5,438 C17S submissions from local residents (65%), leaving an estimated 2,985 outstanding (35%).*

JFSC Director of Registry, Julian Lamb commented:
“We are grateful to all those local residents who have filed their forms already as we appreciate that this is a new and complicated obligation. We urge all those outstanding companies to comply with this legal requirement by submitting their information by 30 June. 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 from 17:00 to 19:00 on Tuesdays (13, 20, 27 June) and Thursdays (15, 22, 29 June). There will also be sessions on Saturday 17 and 24 June between 09:30 and 12:30.

The JFSC will also continue to run sessions within normal business hours Monday to Friday and these can be booked by emailing registry@jerseyfsc.org or calling (01534) 822030. Additional guidance is also available on the JFSC’s website.

*These figures do not include filings from registered companies administered by trust company businesses which are the subject of a separate process.

Additional Information

The JFSC was recently recognised with a Merit Award from the International Association of Commercial Administrators (IACA) for its preliminary work to enhance the Island’s Central Register of Beneficial Ownership and Control. More information on this can be viewed here.
In May 2016, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) published its comprehensive evaluation report of the Island and referred to Jersey as being “in a leading position in meeting standard of beneficial ownership transparency”.