admin 
Government is moving to strengthen corporate transparency by introducing beneficial ownership legislation and establishing a private central beneficial ownership register.
The proposed legislation will require companies operating in Barbados to disclose the natural persons who ultimately own or control them, a measure aimed at enhancing transparency and helping to combat financial crimes.
To raise awareness about the new register, the Ministry of Energy and Business hosted a workshop for the corporate and trust service provider sector.
Acting Director of the International Business Unit, Sangene Watkins-Diagne, explained the rationale behind the legislation, noting that it forms part of Barbados’ efforts to align with international standards and strengthen its regulatory framework.
The workshop attracted 112 licensed corporate and trust service providers, along with other key stakeholders.
Ms Watkins-Diagne said the initiative will further enhance Barbados’ competitiveness and reputation as a compliant and well-regulated jurisdiction for international business.
Grace-Anne Smith 
