Business owners must file by tomorrow

Thursday 29 June 2017

With just one day to go, local owners of up to 1,000 Jersey companies still need to complete the new beneficial ownership register by tomorrow's deadline.

Jersey registered companies have until midnight this Friday to submit a Statement of Beneficial Owners and Controllers, also referred to as a C17S form, to the Companies Registry, which is operated by the Jersey Financial Services Commission (JFSC).

Out of the 33,000 total registered companies in Jersey, just over 25% are owned by local residents; all of whom need to submit their Beneficial Ownership information before the deadline.

This is to satisfy the agreement signed last year between the Island and the Government of the United Kingdom to enhance the sharing of beneficial ownership and control information to trusted international law enforcement and tax authorities as well as ensuring that the island's Beneficial Ownership Register is as up-to-date and accurate as possible.

With only four days remaining until the deadline, the JFSC’s Companies Registry had received 6,638 C17S submissions from local residents, leaving an estimated 1,029 outstanding. 

Chief Officer for Digital, Financial Services and Competition, Richard Corrigan, commented that: “We understand that many local resident owners of Jersey companies have filed their forms already and 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 to the Companies Registry by 30 June.

"This is vital to upholding Jersey’s reputation and our leading position for holding adequate, accurate and current beneficial ownership information in order to satisfy important international obligations.”

You can submit your C17S form for free online here.