The Dutch government is consulting the public about proposed
legislation on registration of ultimate beneficial ownership (UBO).
The legislation aims to implement the Fourth Anti-Money Laundering
Directive. The consultation period ends on 28 April 2017. Under the
proposed legislation, personal data on UBOs must be entered in the
Dutch Trade Register.
Some personal information on the UBO will be publicly available:
name, month and year of birth, nationality, residence status, and
type and size of the UBO's interest in the company. However,
other personal details (for example, the UBO's address) can
only be accessed by national authorities such as the Dutch Revenue
Service. Data on minors and those incompetent to handle their
affairs can be partly protected if so requested.
This legislation is expected to become effective on 1 January
2018. This means that registration of UBOs needs to be finalised on
1 July 2019, at the latest.
The additional information that national authorities have access
to also includes the UBO's date and place of birth, home
address, tax numbers, passport or other identification documents,
and proof of UBO status.
All companies registered at the Dutch Trade Register must comply
with the legislation and register at least one UBO. There are
limited exceptions to these registration duties. The responsibility
to register the UBO lies with the owner of the company, the
managing directors, or the person responsible for the day-to-day
here for the Fourth Anti-Money Laundering Directive and
here for the consultation document (in Dutch
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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