Like we used to Reported, in accordance with the requirements of the Fifth EU Directive on combating money laundering, since September 2020, the Register of Beneficiaries of Legal Entities (UBO register) has been introduced in the Netherlands. The obligation to register in it arises when a person has at least 25% ownership in the authorized capital of the company.
Registration is mandatory for all beneficiaries - residents of the Netherlands, as well as all beneficiaries, regardless of their residence or place of residence, if the trust has acquired Dutch real estate or entered into business relations in the Netherlands.
Why is it being introduced?
The UBO Trust Registry gives an idea of who has a (financial) interest in trusts or similar legal structures. In this way, it helps to prevent the misuse of the financial system for fraud, terrorist financing or money laundering.
Who is responsible for entering data into the registry?
The responsibility for timely and complete registration lies with the trustee (administrator) or a person holding a similar position.
Once registered, each trust is assigned a unique number. The trustee must indicate this number in all letters, declarations or other written documents on behalf of the trust, even if they are not related to the Netherlands.
Registration deadlines and amendments
- for existing trusts, the deadline is February 1, 2023;
- new trusts need to meet registration in one week;
- changes in the structure of the trust should also be registered within a week.
You can learn more about UBO registration and register on the website www.uboregistertrusts.nl. If you have any questions or need consultation, Nalog.nl experts will be happy to help you.
Publication date: 15.11.2022/XNUMX/XNUMX
