Why State search for shadowy firm owners could be tall order

The government may find it difficult to unmask the wealthy individuals holding substantial stakes in companies, but who prefer to remain in the shadows.

This is despite the Business Registration Service recently rolling out regulations that would require all firms operating in the country to prepare a register of their key shareholders, and lodge it with the Registrar of Companies by January 31.

BRS – which is housed by the Attorney General’s office – expects the Companies (Beneficial Ownership Information) Regulations, 2020 to help in the fight against corruption, money laundering and other illicit financial undertakings.