Isle of Man opens its beneficial ownership register to regulated businesses
The Isle of Man announced on 18 December 2024 that businesses subject to its anti-money laundering codes, known as obliged entities, can access the Island's register of beneficial ownership for customer due diligence from 31 December 2024. The Beneficial Ownership (Obliged Entities Access) Order 2024 delivered a joint Crown Dependencies commitment. Access for journalists and civil society was deferred.
Tynwald approved the Beneficial Ownership (Obliged Entities Access) Order 2024 at its December 2024 sitting, and the Isle of Man Government announced the change on 18 December 2024.
What changed
- From 31 December 2024, businesses subject to the Anti-Money Laundering and Countering the Financing of Terrorism Code, or the gambling equivalent, can request access to the Island's register of beneficial ownership.
- Access is for customer due diligence on the parties they deal with.
- This delivered the Crown Dependencies' joint commitment to give obliged entities access by the end of 2024.
- Access for others with a legitimate interest, such as investigative journalists and civil society, was not yet provided. The Government said it would follow EU developments.
Who is affected
Isle of Man companies and their nominated officers, whose beneficial ownership details can now be seen by banks, trust and corporate service providers and other regulated firms.
Later developments
In spring 2026 the Isle of Man consulted on legitimate-interest access and reformed its beneficial ownership rules. See our May 2026 coverage.