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Public Register

New Zealand commits to exploring the establishment of a public central register of company beneficial ownership information.

Country: New Zealand

Status: ongoing

Themes: Beneficial ownership

Last updated: October 2018

Classification:

Concrete: Somewhat Concrete | New: New | Ambitious: Not Ambitious

Notes:

October 2018 update: On 19 June 2018, the Ministry of Business, Innovation and Employment released a discussion document seeking feedback on what requirements there should be on New Zealand companies and limited partnerships to hold and disclose information about their beneficial owners. Submissions closed on 3 August 2018. Limited progress has been made therefore. Interest has been indicated to progress this ahead of the EU by the current Speaker of the House, Justice Minister and Minister Open Data.

June 2018 update: Limited progress has been made but as there is no deadline it is hard to measure progress. The Ministry of Business, Innovation and Employment (MBIE) is exploring the establishment of a public central register of company beneficial ownership information. At the Financial Action Task Force (FATF) meetings in February 2017, MBIE met with officials from a range of countries to better understand how other countries are exploring and implementing beneficial ownership registers. MBIE also met with officials from the UK Treasury and UK Department for Business, Energy and Industrial Strategy in London. MBIE has noted that it intends to consult with stakeholders on this issue later this year (2017).

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