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The last few years have been extremely interesting for the Isle of Man’s latest Government, and there are a number of changes coming into effect this year that will ensure the challenges keep coming during 2018. The Island’s Government needs to look ahead at this New Year positively to build on what it has done well over the last few years whilst always looking to improve and evolve.
The UK government recently closed a consultation during which it took views as to how a new public register of the beneficial ownership of UK land and real estate property may be introduced. This new register of property ownership, that is expected to include all overseas companies, has been proposed for some time now and it seems only a matter of time before it is brought into force. The question for us to consider is how the introduction of such a register will affect clients of Peregrine.