ARTICLE
24 July 2019

Luxembourg Register Of Beneficial Owners: The Final Countdown

DP
DLA Piper UK LLP

Contributor

DLA Piper is dedicated to helping forward-thinking businesses address today’s challenges and shape a better world. With a bold and dynamic culture, it emphasizes excellence in client relationships, community service, and people development. The firm fosters creativity, strategic thinking, inclusivity, and collaboration to exceed expectations. Recognizing the importance of environmental, social, and governance (ESG) issues, the firm actively supports clients in transitioning to sustainable futures. It promotes purpose, transparency, and sustainability within its own governance and operations, ensuring its people are equipped to deliver exceptional results for clients while making a positive societal impact.

The Luxembourg law of 13 January 2019 establishing a register of beneficial owners came into force on 1 March 2019, as highlighted in our January update.
Luxembourg Corporate/Commercial Law

The Luxembourg law of 13 January 2019 establishing a register of beneficial owners came into force on 1 March 2019, as highlighted in our January update. The six-month grace period for filing the required information of the ultimate beneficial owner(s) ends on 31 August 2019. All entities registered in Luxembourg must comply, and failure to do may result in a fine of between EUR1,250 and EUR1,250,000.

The Luxembourg Business Register has released several circulars on the application of the new rules, and a guide to facilitate the identification of beneficial owners.

We can help you set up an internal policy to track changes in your shareholding structure, ensure the electronic filing is done correctly and on time, and – if needed – submit a nondisclosure request to the Luxembourg Business Register. Get in touch for more details.

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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