Skip to main content
Home
  • News
  • Services
    • Certification for Russia, Kazakhstan and EAEU
      • Technical Regulations of the Eurasian Economic Union
      • EAC Certificate of Conformity to Technical Regulations of the Eurasian Economic Union
      • EAC Declaration of Conformity to Technical Regulations of the Eurasian Economic Union
      • EAC Marking
      • EAC certification of machinery
      • EAC Certification of Pressure Equipment
      • EAC Certification of Explosion-proof equipment
      • EAC Certification of Electrical Equipment
      • EAC Certification of Vehicles
      • EAC Certification of switch and control cabinets and electrical distribution boards
      • EAC Certification of agricultural equipment
      • EAC Certification of Clothing and Shoes
      • EAC certification of children's clothing, toys and accessories
      • EAC certification of personal protective equipment
      • EAC Declaration for Cosmetics
      • EAC Certification of Food
      • EAC Certification of furniture
      • EAC Zertifikat für Eisenbahn
      • EAC Certification of Alcohol
      • EAC Certification of Cables
      • EAC Certification of multicomponent products
      • EAC Certification of engines
      • EAC certification of pumps
      • EAC Certification of the pipeline valves
      • EAC Certification for industrial plants
      • EAC Certification of Chemicals
      • EAC Certification of household appliances
      • EAC Certification of luminaires, bulbs and LED modules
      • EAC Certification of measuring instruments
      • EAC Zertifizierung von Verpackungen
      • State Hygienic Registration (SGR)
      • Conformity assessment of fire safety
      • GOST Certification for Russia
      • TR Certification for Russia
      • FAC Certification of communications equipment
      • FSB Notification - Admission of Electronic Devices
      • Licensing of radio and high frequency equipment
      • Import license for ozone depleting substances
      • Certification for medical devices and medicines for Russia and EAEU
      • Conformity assessment for construction material
      • Technical documentation for EAC conformity assessment
      • Consultancy on EAC conformity assessment
      • Exemption Letter for import to Russia
      • Authorized Representative for Russia and EAEU for EAC certification
      • Manufacturing audit for EAC certification
      • Surveillance of EAC conformity assessment
      • Product and packaging marking as a part of the Technical Regulation in the EAEU
      • Costs of EAC certification and EAC declaration
      • Selection and shipment of samples for EAC certification and EAC declaration
      • Technical Regulation in Kazakhstan
      • Technical Regulation in Belarus - Conformity assessment
      • EAC conformity assessment schemes
      • Frequently asked questions about EAC certificates and declarations
      • Period of validity of EAC certificates and declarations
      • Type examination for EAC conformity assessment
    • Apostille and consular Legalization of foreign documents
      • Apostille and consular legalization from Russia and Eurasian Economic Union
      • Apostille and consular legalization from Europe and European Union
      • Apostille and consular legalization from Asia
      • Apostille and consular legalization from the Americas
      • Apostille and consular legalization from Africa
      • Apostille and consular legalization from Oceania
      • Banks and financial institutions
      • Global mobility and visa support
      • Lawyers and notaries
      • Translation agencies
      • Frequently asked questions about apostille and consular legalization
    • Extracts from foreign commercial registers and accounting statements
      • Extracts from commercial registers of Russia and EAEU
      • Extracts from the commercial register and company information from Europe
      • Extracts from the commercial register and company information from Asia
      • Extracts from the commercial register and company information from the Americas
      • Extracts from the commercial register and company information from Africa
      • Extracts from the commercial register and company information from Oceania
      • Know Your Customer
    • Extracts from foreign land registers
      • Land register extracts from Europe
      • Land register extracts from Russia and EEU
      • Land register extracts from Asia
      • Land register extracts from the Americas
      • Land register extracts from Africa
      • Land register extracts from Australia and Oceania
    • Procurement of documents worldwide
      • Procurement of documents in Austria
      • Procurement of documents in Albania
      • Procurement of documents in Andorra
      • Procurement of documents in Armenia
      • Procurement of documents in Belize
      • Procurement of documents in Belarus
      • Procurement of documents in Belgium
      • Procurement of documents in Bulgaria
      • Procurement of documents in Bosnia and Herzegovina
      • Procurement of documents in the Vatican
      • Procurement of documents in the United Kingdom
      • Procurement of documents in Hungary
      • Procurement of documents in Haiti
      • Procurement of documents in Germany
      • Procurement of documents in Greece
      • Procurement of documents in Denmark
      • Procurement of documents in Iran
      • Procurement of documents in Ireland
      • Procurement of documents in Iceland
      • Procurement of documents in Spain
      • Procurement of documents in Italy
      • Procurement of documents in Kazakhstan
      • Procurement of documents in Canada
      • Procurement of documents in Kyrgyzstan
      • Procurement of documents in China
      • Procurement of documents in Latvia
      • Procurement of documents in Lithuania
      • Procurement of documents in Mexico
      • Procurement of documents in Moldova
      • Procurement of documents in Mongolia
      • Procurement of documents in the Netherlands
      • Procurement of documents in Norway
      • Procurement of documents in Poland
      • Procurement of documents in Portugal
      • Procurement of documents in Russia
      • Procurement of documents in Romania
      • Procurement of documents in the USA
      • Procurement of documents in Serbia
      • Procurement of documents in Slovakia
      • Procurement of documents in Slovenia
      • Procurement of documents in Tajikistan
      • Procurement of documents in Turkmenistan
      • Procurement of documents in Uzbekistan
      • Procurement of documents in Finland
      • Procurement of documents in France
      • Procurement of documents in Croatia
      • Procurement of documents in Montenegro
      • Procurement of documents in the Czech Republic
      • Procurement of documents in Switzerland
      • Procurement of documents in Sweden
      • Procurement of documents in Estonia
      • Procurement of documents in South Korea
      • Procurement of documents in Antigua and Barbuda
      • Procurement of documents in the Bahamas
      • Procurement of documents in Cyprus
      • Procurement of documents in Malta
      • Procurement of documents in Ukraine
      • Procurement of documents in Japan
      • FAQ replacement & retrieval of documents
    • Technical and legal translations
      • Legal translations
      • Technical translations
      • Certified translations
      • Marketing translations
      • Translation of contracts
      • Translations of trade register extracts
      • Proofreading
      • Editing
    Our Services
    Our Services

    We develop professional solutions for each customer individually to master successfully the challenges in the new markets.

  • Company
    • Team
    • Our references
    • Our story
    • Customer reviews
    • Affiliate program
    Our Company
    Our Company

    We are a globally operating consulting company based in Passau. Our broad spectrum of corporate services aims to cross borders and overcome boundaries together with our clients.

  • Career
  • Contact
News Schmidt & Schmidt

Isle of Man authorities hire firm to digitally verify company beneficiaries

  1. Home
  2. News

Monthly archive

  • 2025 (39)
  • 2024 (53)
  • 2023 (39)
  • 2022 (88)
  • 2021 (187)
  • 2020 (89)
  • 2019 (42)
  • 2018 (34)
  • 2017 (21)
  • 2016 (14)
  • 2015 (4)
Isle of Man authorities hire firm to digitally verify company beneficiaries

The Isle of Man Central Register has announced it has hired cybersecurity firm SQR to provide “seamless verification” of the identity of beneficial owners of local businesses. This was reported by Global Government Fintech .

Beneficiaries, according to local law, are considered to be persons who control at least 25% of the shares or interests of companies registered in the Isle of Man.

The Isle of Man Central Register, part of the Department of Enterprise, has decided to improve the technical quality of its beneficiary database. As SQR noted, the move was consistent with its “commitment to maintaining the island’s reputation as... a responsible and increasingly resilient jurisdiction.” Contractors promise the authorities to provide a process for reliably verifying the identity of the ultimate owners of local businesses.

SQR entered into a five-year contract with the Registry. The company will carry it out in partnership with Professional Data Management Services (PDMS), a firm specializing in software development.

SQR says the app it will use for digital verification is certified under the UK Government's Digital Identity and Attribute Trust Framework.

Beneficiaries selected by the Central Registry for identity verification will receive emails inviting them to register for the application. SQR claims that this will be beneficial to the business owners themselves - they will be reliably identified, which will increase the level of trust in them from the authorities and partners. In addition, if they wish, identity verification data can be transferred to other organizations so that they do not have to go through this procedure again in the future.

SQR notes that their company was selected as a proven and reliable platform that provides an easy way to identify individuals. Her work will allow government officials to be confident that business owners are who they say they are.

Global Government Fintech reminds that the Crown Dependencies of the United Kingdom, including the Isle of Man, have abandoned the idea of creating a public register of company beneficiaries. Their decision was influenced, in particular, by the position of the EU Court of Justice, which considers such practices to be a violation of human rights to privacy. Instead, the Isle of Man is promising to develop the best practices possible for those with a “legitimate interest” to access register data. One of the aspects of this process in the Registry is to ensure the complete reliability of the data contained in its databases.

As well as information about company owners, the Isle of Man Central Register contains the civil register, deeds register, land register, wills register, public record office and local legal records.

What is a commercial register?

In our video we explain the definition and function of a commercial register and how you can verify the reliability and solvency of your foreign business partner.

Should you wish to check the sincerity of your foreign business partner’s request, Schmidt&Schmidt will gladly assist you.

We offer extracts from the commercial registers of more than 100 different registers in countries spread all around the globe. Additionally, we offer annual statements for a variety of companies. The original extract from any commercial register can be sent to you by mail or as a pdf-file via e-mail. Besides that, commercial register extracts can be authenticated with an apostille.


Order company information
Please login or register to leave a comment. Please note that we release all comments manually, so that they are only published with a certain time delay. You can find more information about the comment function here.

About this article

Victoria Pachotina
Victoria Pachotina
Associate
BusinessBeneficial ownersVerificationIsle of Man
11 July 2024

Subscribe to our newsletter.

Stay informed on our latest news.

Subscribe

Related Posts

Register of beneficiaries launched in Norway
Register of beneficiaries launched in Norway

Norway has launched a register of beneficial owners of companies, but it will not be publicly accessible for now. Businesses that do not disclose the details of their ultimate owners will be fined starting next year.

03 October 2024
Evgeniya Davydova
The UK Trade Register has begun migrating its users to a new form of access to services
The UK Trade Register has begun migrating its users to a new form of access to services

The UK Department for Business, Innovation and Skills (Companies House) has implemented the GOV.UK One Login access technology for certain services of its digital platform. The Trade Register has become the last of the forty UK government services to use this electronic tool, Public Technology reports, citing Peter Kyle, Secretary of State for Science, Innovation and Technology.

27 September 2024
Evgeniya Davydova
Ireland set to reform limited partnership register rules
Ireland set to reform limited partnership register rules

The Irish government has drafted legislation that will replace the current Limited Liability Partnership Act 1907 and the Registration of Business Names Act 1963 when it comes into force. It will expand the registrar's powers and introduce additional reporting and disclosure requirements, Irish Legal News reports.

15 August 2024
Victoria Pachotina
Finnish authorities have begun mass exclusion of companies from the country's trade register
Finnish authorities have begun mass exclusion of companies from the country's trade register

The Finnish Patent and Registration Office has removed about 1,500 limited liability companies and cooperatives from the country's trade register. This was reported by the Cision News portal.

Schmidt & Schmidt previously reported that about 5,200 Finnish companies could be excluded from the trade register in 2024.

28 June 2024
Victoria Pachotina

Pagination

  • Next page ››
Schmidt & Schmidt OHG
+1 332 208 131 7
office_hours
online
contact@schmidt-export.com

Bahnhofstrasse 22a
94032Passau
Germany
Visa
Mastercard
SEPA Bank Transfer
PayPal

Footer menu

  • Contact
  • Guarantee
  • Imprint
  • Privacy policy
  • Legal agreements
  • Withdrawal policy
  • Site map
  • Payment terms
  • Cookie policy
  • TEST

Search

  • Deutsch
  • English
  • Español
  • Français
  • Italiano
  • Қазақ тілі
  • Русский
  • Türkçe
  • 中文
+1 332 208 131 7
office_hours
online
contact@schmidt-export.com