Central Registry Proposes Isle of Man Beneficial Ownership Changes

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Central Registry sets out proposals to strengthen the Island’s beneficial ownership framework

Published on: 27 April 2026

The Central Registry has set out proposals to strengthen the Island’s beneficial ownership framework, aimed at making it easier to identify who owns and controls companies and other legal entities in the Isle of Man.

The proposals include two key areas of change: updating the definition of ‘registrable beneficial owner’, and changes to the information required when an entity does not have a registrable beneficial owner.

The package of legislative changes includes:

• The Beneficial Ownership Act 2017 (Amendment) Order 2026 to update the definition of ‘registrable beneficial owner’; and
• The Beneficial Ownership Information Regulations 2026, outlining the steps required where an entity does not have a registrable beneficial owner, including submitting information on the entity’s senior managing official.

Both the Order and the Regulations are set to be considered by Tynwald in May.

The proposals are intended to ensure the Isle of Man continues to meet the international standards on transparency and beneficial ownership.

Tim Johnston MHK, Minister for Enterprise, said: ‘The Isle of Man has a strong track record in corporate transparency. These proposals further strengthen our beneficial ownership regime by improving the quality, accuracy and reliability of information held on the database of beneficial ownership, in line with international standards. By ensuring high‑quality beneficial ownership information is maintained on the Database, we are helping to protect the Island from the risks associated with money laundering, terrorist financing and proliferation financing, while reinforcing our reputation as a well‑regulated and co‑operative international financial centre.’

To reflect and support the changes, the Authority will shortly be publishing a new guidance document, which will be laid before Tynwald at the May sitting.