The Registrar of Beneficial Ownership of Companies and Industrial & Provident Societies (the “RBO”) opened on Monday 29 July 2019. Filing of beneficial ownership data can only be done online through a portal on the RBO’s website from that date.
Companies and societies will have until Friday 22 November 2019 to file their data with the RBO. If a company or society does not file their data before this date they will be in breach of the Regulations. The RBO will write to each company and Industrial & Provident Society about their filing obligations within the following weeks.
By way of recap, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 (the “2019 Regulations”) were signed into law in March 2019 and revoked the 2016 Regulations which we have discussed in a previous article.
Although broadly similar to the 2016 Regulations, the 2019 Regulations require corporate entities to file information on their beneficial owners with the new Central Register. By way of reminder, we have set out below the categories of beneficial owner and the type of information that must be filed.
Who is a beneficial owner?
A beneficial owner is as follows:
What information must be filed with the Central Register?
The following non exhaustive list of information is required for each Beneficial Owner:
Further information on the central register of beneficial ownership can be found here or by contacting a member of Fieldfisher’s corporate team in Dublin.
Website by Open