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Beneficial ownership directory launch

16 Mar 2018 / law reform Print

Beneficial ownership register is thrown open

The central register of beneficial ownership of companies and co-operatives will be up and running within weeks.

A Department of Finance spokesman confirmed that the Statutory Instrument, which gives legal responsibility to the Registrar of Companies for the establishment and maintenance of the register, will be activated by the end of March.

Article 30 of the fourth EU Anti-Money Laundering Directive requires all member states to put into national law provisions around beneficial ownership information for corporate and legal entities.

Operational

While a Department spokesman confirmed that the register will be operational by the end of March, an extended time-frame will be offered for beneficial ownership filings.

Statutory Instrument No 560 of 15 November 2016, requires all corporate and legal entities to hold adequate, accurate and current information on their beneficial owners.

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