Purpose: creation of a register of beneficial owners.

Entities concerned: all Luxembourg companies, investment funds and registered branches of foreign companies.

Beneficial owner: i.e., any person owning directly or indirectly at least 25% of an entity concerned.

Access to the register of beneficial owners: public authorities, self-regulatory bodies, entities subject to AML-CTF obligations, any member of the public (limited information).

Information disclosed: name, nationality, date and place of birth, country of residence, address, national or foreign identification number, nature and extent of beneficial ownership.

Entry into force: 1st day of the second month following the publication of the law – entities concerned to be compliant within 6 months of the entry into force.

Please click on the link below to read the full Newsflash.

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