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Search result based on key: Ultimate Beneficial Ownership (UBO)
Belgian implementation of the ruling of the European Court of Justice on public access to UBO register
The UBO register is a centralized database used to prevent money laundering, terrorist financing, and related criminal activities by tracking the natural persons who ultimately control companies and other legal entities. In the past, public access to certain UBO data was allowed, but the European Court of Justice ruled that such access was invalid. The Belgian legislator subsequently made legislative changes that restrict public access to the UBO register to those who can demonstrate a legitimate interest related to fighting money laundering and related criminal activities. This text provides details on the legislative changes and the conditions that qualify as a legitimate interest for access to the UBO register.
European Court of Justice on the UBO-register
The Belgian Federal Public Service Finance issues a communication announcing a temporary suspension of general public access to UBO information.
UPDATE: New legislative developments on Ultimate Beneficial Owners
The Belgian legislator introduces changes to the legal framework on Ultimate Beneficial Owners (UBO) and the UBO-register.
The Belgian UBO-Register in light of the privacy legislation
Corporate and other legal entities will need to comply with European and national privacy legislation when identifying and registering their UBOs.
(R)EVOLUTIE BINNEN DE BELGISCHE MAATSCHAP. NIEUWE VERPLICHTINGEN.
Bij Wet van 15 april 2018 werd het Belgisch ondernemingsrecht op een aantal vlakken gewijzigd. Deze wetswijziging heeft ook belangrijke gevolgen voor de voormalige ‘burgerlijke maatschap’. Voortaan zal de maatschap als een “onderneming” worden beschouwd met de daar bijhorende verplichtingen.
(R)Evolution in the Belgian civil law partnership landscape. What’s new?
The Act of 15 April 2018 reforms Belgian business laws in many aspects, with important consequences for civil law partnerships. Moving forward, these civil law partnerships will be considered as 'enterprises' with all the corresponding obligations thereof.
UPDATE: Registration UBO postponed until 31 March 2019
As communicated in our previous newsflash regarding the Belgian UBO-Register, published on our website on 30 August 2018, Belgian corporate and other legal entities initially had to upload certain information on their UBOs to the UBO-Register by 30 November 2018 at the latest.
The Belgian UBO-Register and obligations for corporate entities
The Belgian UBO-Register and the obligations for corporate entities within the framework of the Law for the prevention of money laundering and terrorist financing: here’s what you need to know.