Introduction of Registers of Beneficial Owners Regulations

By virtue of the Fourth EU Anti Money Laundering Directive, regulations were enacted on the 1st of January 2018, introducing the obligation for the keeping of registers of beneficial owners of companies, trusts, foundations and associations.
The required information is to be filed with the relevant authorities and power to access this is quite widespread and includes amongst others, national competent authorities with responsibilities for combating money laundering and terrorist financing, national tax authorities and subject persons providing services for the purpose of carrying out customer due diligence.

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