The Luxembourg law of 13 January 2019 creating a Register of beneficial owners ("RBO Law") entered into force on 1 March 2019.
By the end of the six-month transitional period provided in the RBO Law, i.e. by the end of August 2019, all in-scope Luxembourg entities (e.g. commercial companies, special limited partnerships, investment funds, including common funds, not-for-profit associations and foundations) will have to be compliant with the provisions of the RBO Law.
In-scope entities must have provided the Register of beneficial owners ("RBO") with relevant information on their ultimate beneficial owner(s). They will also have to keep this information together with supporting documents at their registered office. That information needs to be adequate, accurate and current.
After 31 August 2019, filing fees will apply and non-compliant entities will be exposed to criminal fines.
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.