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Will this impact upon Timeshare?

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  • Will this impact upon Timeshare?

    In March, more than 40 MPs supported an amendment which would have forced the Channel Islands to be more transparent when it comes to who owns assets, but that debate was withdrawn.

    Today Jersey, Guernsey and the Isle of Man have revealed how they plan to move towards making the register public.

    The three phases are:
    • To interconnect the islands' registers of beneficial ownership of companies with those within the EU for access by law enforcement and Financial Intelligence Units.
    • To give access for financial service businesses and other businesses for due diligence purposes.
    • To give public access aligned to the approach taken in the EU directive.
    Given that a lot of developers seem to use the Isle of Man for tax purposes and that FNTC has a "heavy presence" on that island. It does seem to raise the question of how the proposed regulations would impact on the timeshare industry.
    Last edited by helpmate2; 19-06-2019, 10:11 AM.