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<p>The UK Overseas Territories and Crown Dependencies are separate jurisdictions with
their own democratically elected governments. The UK Government works closely with
the Overseas Territories and Crown Dependencies on transparency issues. Our priority
is the implementation of the new bilateral arrangements concluded with them in 2016.
Under these arrangements, the Overseas Territories and Crown Dependencies have committed
to establish, where they have not already done so, central registers of beneficial
ownership information or similarly effective systems and to give UK law enforcement
and tax authorities near real-time access to beneficial ownership information on corporate
and legal entities incorporated in their jurisdictions. Nevertheless, it remains the
Government’s ambition for public registers to become the global standard. If this
happens, we would expect the Overseas Territories and Crown Dependencies to follow
suit.</p>
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