The beneficial ownership register comes under Article 30 of the 4th EU Anti-Money Laundering Directive. It requires all EU Member States to legislate around beneficial ownership information for companies and legal entities.
There are two stages to this process:
- As of 15 November 2016 Companies and legal entities must hold information on their beneficial owner in their own beneficial ownership register.
- Companies and legal entities will file this information with the central beneficial ownership register.