Govt completes work to open up ultimate beneficial ownership register 

The Government of Gibraltar has completed an 18-month programme of work on the Ultimate Beneficial Ownership Register, which it says will soon be fully operational and free to access for anyone wishing to conduct a search. 

The project follows a commitment made by Chief Minister Fabian Picardo to the UK’s Minister for Europe, Stephen Doughty, to provide free and unhindered access to the register. 

Gibraltar has had a publicly available register of ultimate beneficial ownership since 2020 and was the first UK Overseas Territory to implement such a register. 

It is one of three Overseas Territories, along with Montserrat and St Helena, with a fully public beneficial ownership register, which the Government says now offers stakeholders “meaningful and wide-ranging access” to beneficial ownership information following the latest enhancements. 

As well as enabling open access, the Government said it had delivered significant enhancements to the register’s functionality and the oversight arrangements that support it. 

Enforcement activity linked to the register has also been increased in a bid to ensure the continued effectiveness and integrity of the system. 

According to the Government, this work highlights Gibraltar’s role in supporting the British  government and safeguarding its international reputation, including in preparation for the forthcoming assessment by Moneyval. 

“I wish to thank everyone within HM Government of Gibraltar who has worked on this project over many months, and I recognise that this remains work in progress,” Mr Picardo said. 

“We place a premium on this kind of work because it strengthens our international reputation, and we continue to work closely with the UK Government, including on enhancing sanctions-related capability within the Ministry of Justice under the leadership of Minister Feetham.”