Beneficial Owners: Four Months to go
Preventing abusive use of European structures for criminal activities is one of the current main concerns of the EU institutions. For that purpose, a new obligation of identifying beneficial owners for registered entities befalls EU members, Luxembourg being no exception. Registered entities have until 31 August 2019 to file beneficial owners (UBO) information in the Luxembourg Register of beneficial owners (Registre des bénéficiaires effectifs or the RBE), which is now live. There is also an ongoing requirement to keep information up-to-date.
How are companies affected by this new obligation? Who qualifies as a beneficial owner? What type of information must be filed?
So many practical questions registered entities need to address immediately in order to ensure compliance, questions that we will help you answer here.
Michael SchweigerCounsel Attorney at law
Michael Schweiger, Counsel, is a member of the Banking & Finance practice group in our Luxembourg office. He leads the Luxembourg financial regulatory team and provides clients with practical advice, ensuring regulatory compliance and an appropriate risk-reward balance.T: +352 466 230 520 E: firstname.lastname@example.org
Sandy BrumbergProfessional Support Lawyer / Attorney at law
Sandy Brumberg, professional support lawyer, is a member of the Banking & Finance Practice Group of our Luxembourg office. She focuses on EU/Luxembourg regulatory matters such as banking/investment firm licenses, anti-money laundering, data protection and payment services.T: +352 466 230 313 E: email@example.com
AnneKlethiAssociate Attorney at law / Tax adviser
Anne Klethi, tax adviser, is a member of the International Tax Practice Group in our Luxembourg office. She focuses on international tax matters, notably for private wealth investors, and tax litigation.T: +352 466 230 312 E: firstname.lastname@example.org