UPDATE: European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 (“the Regulations”)
Further to our previous communication summarising the requirements for companies, or other legal entities, incorporated in Ireland to establish and maintain a Beneficial Ownership Register the CRO recently published an update in relation to the public disclosure requirements of the Regulations i.e. the establishment of a public Register of Beneficial Ownership (“RBO”) which were due to commence in June 2017.
The public RBO is now expected to be in place and ready to be populated in Q4 2017. It is expected that legal responsibility for the establishment and maintenance of the RBO will be assigned to the Registrar of Companies and further detail on this will be provided as soon as the statutory instrument assigning responsibility has been publicised.
Please call Anna or Joanna on 0353 (0) 91 704818 if you have any queries in relation to the Register of Beneficial Ownership