Register of beneficiaries of legal entities (UBO register)

As we reported earlier, from September 2020, the Register of Beneficiaries of Legal Entities (UBO register) was introduced in the Netherlands. This is an innovation dictated by pan-European legislation (EU Directive 2015/849), the purpose of which is to increase the transparency of corporate structures. The Netherlands is among the latest to introduce these regulations. More here. Detailed video here.

UBO (ultimate beneficiary) is considered to be an individual who has more than 25% of control (shares, capital, votes, economic interest or other actual control) over a company (BV, stichting, etc.). In both direct and multi-level structures, it is necessary to indicate the final beneficiary - an individual, determined according to the rules prescribed by law. We are ready to help in this process.

Companies established before September 27.09.2020, 27 are required to submit data to the register of beneficiaries by March 2022, 4. Given the associated volume of documentary work, we recommend not postponing registration until the last moment. There are penalties for the absence or late registration in the register, which may include a requirement to terminate activities and a category 20,500 fine of up to € XNUMX.

We will be happy to help you comply with legal requirements in a timely manner by fully accompanying the registration process in the UBO registry. The cost of the service depends on the complexity of the situation:

– Is your company directly owned by up to 4 individuals? The cost will be EUR 200 excl. VAT.
– Is your company owned by a parent company from any jurisdiction or by several Dutch companies? The cost will be EUR 350 excl. VAT (assuming this is the only level of ownership up to the ultimate beneficiary);
– In other cases – EUR 500 excl. VAT.