Offshore Compliance and the Role of Beneficial Ownership Registers
Offshore compliance and the role of beneficial ownership registers are critical components of international efforts to combat money laundering, tax evasion, and other illicit financial activities. Beneficial ownership refers to the individuals or entities that ultimately own or control a company or asset, even if their names do not appear on official documents. Offshore compliance, on the other hand, involves ensuring that companies and individuals who engage in financial transactions in offshore jurisdictions adhere to the relevant laws and regulations….