The Beneficial Ownership Act 2025 came into force on 3 November 2025. It consolidated into a single statute the beneficial ownership requirements previously spread across the Companies Act 1981, the Limited Liability Company Act 2016 and the partnership legislation.
What changed on 3 November 2025
The register moved from the BMA to the Registrar
The Act moved the central register of beneficial ownership, and the verification function exercised on formation and changes, from the Bermuda Monetary Authority to the Registrar of Companies. Any description of Bermuda's beneficial ownership regime that refers to filing with the Bermuda Monetary Authority describes the position before that date.
Who is in scope
A company, a limited liability company, a overseas (permit) company an exempted partnership, a limited partnership, an exempted limited partnership and an overseas partnership.
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Exemptions from the regime and from filing →
What you must do
- Identify your beneficial owners, taking reasonable steps. Identifying and verifying your beneficial owners →
- Verify their identity and status against a reliable and independent source, before entering them on your register.
- Record the prescribed minimum information. What you must record →
- File it with us on registration, continuation, conversion or an application for permission to carry on business. Filing with the Registrar and keeping it current →
- Keep it current, within thirty days of being notified of a change.
Who can see it
The central register is not public
Access is confined to specified competent authorities, persons with a legitimate interest and to persons subject to anti-money laundering obligations for the purpose of conducting customer due diligence.
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Who can access beneficial ownership information →
Legislation
Beneficial Ownership Act 2025 | 2025 : 16 · External link
Beneficial Ownership Amendment Act 2025 | 2025 : 32 · External link