Article 30 of the 4th EU Anti-Money Laundering Directive (4AMLD) requires all EU Member States to put into national law provisions around beneficial ownership information for corporate and legal entities.
There are two stages to this process:
- As of 15 November 2016 corporate and legal entities must hold adequate, accurate and current information on their beneficial owner(s) in their own beneficial ownership register.
- Corporate and legal entities will in due course be required to file this information with a central beneficial ownership register. The central register is in the process of being established.
So what are the requirements?
- Corporate and legal entities must create a Beneficial Owners Register (BOR), i.e. a list of persons who ultimately own or control, through direct or indirect ownership, a shareholding in excess of 25%
- Every entity is under a statutory obligation to immediately take ‘all reasonable steps’ to obtain and hold adequate, accurate and current information in respect of its beneficial owners.
- Where Beneficial Owners cannot, after all reasonable efforts, be identified, the names of the company’s 'senior managing officials' i.e. Directors, must be entered on the register.
We are here to help you fulfill these obligations.
The first step is completing the form below or alternatively get in touch at [email protected]. Our standard fee for submitting this information to the Central Register starts at €175 excluding VAT. Note filing fees may vary based on the complexity of the ownership structure of your company.
We look foward to your enquiry.