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European Union Regulations

Anti-Money Laundering: Beneficial Ownership of Corporate Entities

On 15 November 2016, Statutory Instrument No. 560 of 2016 was implemented and sets out certain requirements in accordance with the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016. (“the Regulations”)

In summary the Regulations require each entity to give a specific notice to each natural person whom it believes is the beneficial owner of 25% plus one share in the entity (“the Beneficial Owners”).   This information and in some cases the steps taken to identify the Beneficial Owners must be recorded in a Beneficial Ownership Register.

 

To learn more about the beneficial ownership register and its impact, please download our brochure to the right.

Download our brochure
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