The Luxembourg law of 13 January 2019 introducing a central register of beneficial owners ("BOs") of Luxembourg entities was published in the Mémorial A of 15 January 2019 and entered into force on 1 March 2019 ("Law").
Luxembourg entities are consequently required to obtain and hold adequate, accurate and up-to-date information on their BOs at their registered office ("Internal File").
Such information must in addition be uploaded into a newly created central register of BOs, the so-called "RBE" (Registre des bénéficiaires effectifs), maintained by the Luxembourg Business Registers.
Luxembourg existing entities now have until 1 September 2019 (at the latest!) to compile their Internal File on BOs and to register the relevant information with the RBE.
There is still time to act but you should not assume that your service providers will automatically take care of the required filing!
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.
