06 Sep UBO registry: the deadline is almost there!
By 30 September 2019, all legal entities under Belgian law must have registered their effective beneficiaries in the UBO register. Failure to comply with this regulation can imply administrative fines up to EUR 50,000.
We remind you that the UBO (Ultimate Beneficial Owner) register is an instrument of the SPF Finance. These measures are part of the different initiatives taken by the European institutions to fight money laundering and the financing of terrorism. We discussed ths in our September 26, 2018 newsletter.
This register will collect information on the actual beneficiaries of any company, but also non-profit organizations, associations, foundations or trusts, or even a simple company without legal personality.
Cairn Legal is available to assist you in the following matters :
– Identify actual beneficiaries
– Identify indirect beneficiaries
– Identify the group beneficiaries
– Identify the information you need to share
– Identify who is responsible for the information to be shared.
For more information on the subject, please contact Didier CHAVAL (firstname.lastname@example.org).
The Cairn Legal team.