A new regime requiring companies to disclose their true owners will test Barbados’ ability to meet international anti-money laundering standards, as officials warned that failure to comply could expose the country to financial sanctions and reputational damage.

The officials urged compliance with a Beneficial Ownership Register which is designed to enhance national corporate transparency, combat illicit financial flows, and protect the island’s international standing.

The initiative, led by the Ministry of Energy, Business Development and Commerce alongside Business Barbados, establishes a central, secure repository for records identifying the ultimate human beneficiaries who own or control corporate entities across the country.