The Office of the Registrar of Companies is advising registered entities and industry stakeholders of the circulation of the latest draft Beneficial Ownership Regulations 2026 and revised draft Guidance Notes, issued as part of the ongoing implementation of the Beneficial Ownership Act 2025. These documents are being provided ahead of anticipated legislative amendments expected this summer and are intended to assist entities in preparing for compliance and filing requirements.
Premier and Minister of Finance the Hon. E. David Burt, JP, MP, said, “Strengthening Bermuda’s beneficial ownership framework reinforces our longstanding commitment to transparency, effective regulation, and maintaining our reputation as a well-regulated international financial centre. These measures support global standards while ensuring Bermuda remains a trusted and cooperative jurisdiction.”
The Beneficial Ownership Act 2025 establishes a modernised framework requiring Bermuda registered entities to identify and maintain accurate, up to date information on their beneficial owners. It strengthens oversight by the Registrar of Companies and supports Bermuda’s obligations to international standard setting bodies on transparency and anti-money laundering. The Act outlines requirements for identifying individuals who ultimately own or control legal entities, maintaining records, and submitting information to the Registrar within prescribed timeframes. It also sets out enforcement provisions, including administrative actions for non-compliance.
The accompanying draft Regulations 2026 provide further detail on how entities must comply with the Act. This includes procedures for filing beneficial ownership information, verification requirements, timelines for updates, and the operational processes for maintaining the central register. The Regulations also address specific scenarios such as exemptions, reporting obligations for complex structures, and access to information in defined circumstances.
The revised draft Guidance Notes are intended to support practical understanding and implementation. They outline key definitions, clarify reporting expectations, and provide examples to assist entities in determining beneficial ownership and meeting their obligations. The Guidance Notes also explain the scope of the regime, due diligence expectations, and the roles of corporate service providers and compliance professionals.
Stakeholders should note that these materials reflect the current Act and draft Regulations and are being issued as an interim measure. Further revisions are expected in the coming weeks, including amendments to the Act and Regulations, proposed exemption orders relating to trusts and funds, and updates relating to legitimate interest access. The commencement of enforcement action has been deferred until 31 August 2026 to allow entities additional time to prepare.
Registered entities are encouraged to review the documents carefully and begin aligning their internal processes to meet the forthcoming requirements. Early preparation will support a smoother transition once the legislative framework is finalised and fully in force.
The draft Beneficial Ownership Regulations 2026 can be accessed at:
The revised Beneficial Ownership Guidance Notes can be accessed at:
https://www2.gov.bm/files/media-library/20260701/3d9b07dd-guidancenotes-draft2-9june_2026.pdf
