Tax and Legal Alert
Change in authorised signatory regime and UBO identification
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(i) Change in Authorised Bank Signatory Regime for Global Business Companies
Further to the amended Guidelines for Management Companies issued by the Financial Services Commission (the “FSC”) on 05 June 2026, every bank account of a Global Business Company (the “GBC”) must include at least one authorised signatory who is an officer of the Management Company approved by the FSC. The officer may be a resident director.
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