The Government has completed a substantial programme of work on the Ultimate Beneficial Ownership (UBO) Register over the past 18 months.

This work follows a commitment made by the Chief Minister, Fabian Picardo, to Stephen Doughty, Minister for Europe, to provide free and unhindered access to the UBO Register. The Register will shortly become fully operational and accessible free of charge to any individual wishing to conduct a search.

A statement continued: "Alongside enabling open access, significant enhancements have been delivered to strengthen the Register’s functionality and the oversight arrangements that support it. Enforcement activity in this area has also been increased to help ensure the continued effectiveness and integrity of the system.

"This progress demonstrates the important, though often unseen, work undertaken by Gibraltar in support of the UK Government and in safeguarding its international reputation including in preparation for the forthcoming assessment by Moneyval."

Commenting, the Chief Minister Fabian Picardo, said: “I wish to thank everyone within HM Government of Gibraltar who has worked on this project over many months, and I recognise that this remains work in progress. We place a premium on this kind of work because it strengthens our international reputation, and we continue to work closely with the UK Government, including on enhancing sanctions-related capability within the Ministry of Justice under the leadership of Minister Feetham.”