Sentences with phrase «beneficial ownership in the company»

The account balances for employees represent their beneficial ownership in the company.

Not exact matches

Of 300 offshore shell companies identified by Reuters, 22 would typically have been required to have published the beneficial ownership information by now because their reporting dates fell in the weeks since July 1, when the rules came into force.

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Six countries, Britain, Afghanistan, Kenya, France, the Netherlands and Nigeria, have agreed to publish registers of who really owns companies in their territories, a so - called register of beneficial ownership.

In the U.S., many states do not require any such listing of beneficial ownership information — something that can make it difficult for law enforcement, much less the general public, to determine the companies» owners.

He said the country had made tremendous progress after last year's summit in London compared to its compatriots, saying, «we have since organised a consultative workshop on beneficial ownership for state and non-state actors while the Companies Act, (Act 920) had also been amended to make provision for beneficial ownership regime a reality.»

This morning at the Open Government Partnership summit in London, David Cameron announced the result of the UK's consultation on the beneficial ownership of companies: the information will not only be collected but be put online, for free, in a public register.

International oil companies in Angola commit themselves not to go into partnership with any smaller companies whose ultimate beneficial ownership is unknown to the public.

If the proposals are implemented as set out in the consultation document then overseas entities owning UK real estate will need to supply information on their beneficial ownership (in much the same was as under the PSC) to Companies House and the information will be displayed there publicly.

«It does not matter where in the world your company is registered if you own property in London or sell things to government, as part of government procurement, then you have to declare the beneficial ownership, in other words the ultimate ownership of the company,» said Matthew Hancock, the UK's Cabinet Office Minister, according to the BBC.

The proposals also include requiring foreign companies owning land and property in the UK to join a public register of beneficial ownership, and creating an international anti-corruption coordination centre to help police and prosecutors work together cross-border.

It is well known that Bermuda already has some of the most responsive and comprehensive registers of beneficial ownership of companies registered in this jurisdiction and that those registers are updated in real time on every share transfer.

Beneficial owners of overseas companies, specifically in the Isle of Man, are currently being targeted by HMRC in relation to the ownership of high value yachts.