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23 Feb 2021

Central Register of Ultimate Beneficial Owners

Following the decision of the Council of Ministers to transpose the 4th Anti-Money Laundering Directive (EU) 2015/849 to the national legislation, the Registrar of Companies, has been appointed as the competent authority to maintain a centralized register of beneficial owners (“UBO”).

The collection of data will commence on 16/03/2021 through an online platform.

Access to the platform/register is only available to competent authorities, such as Tax authorities, upon request, and the register is not available to the public. All legal persons and legal arrangements, including trusts, have a duty to comply with the provisions of the new legislation.

We will share more detailed information regarding the requirements, fees, compliance obligations and potential exceptions to the obligation to register the UBOs in due course, once there are available clarifications by the Registrar.

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