The Luxembourg law of 13 January 2019 establishing a register of beneficial owners came into force on 1 March 2019, as highlighted in our January update. The six-month grace period for filing the required information of the ultimate beneficial owner(s) ends on 31 August 2019. All entities registered in Luxembourg must comply, and failure to do may result in a fine of between EUR1,250 and EUR1,250,000.
The Luxembourg Business Register has released several circulars on the application of the new rules, and a guide to facilitate the identification of beneficial owners.
We can help you set up an internal policy to track changes in your shareholding structure, ensure the electronic filing is done correctly and on time, and – if needed – submit a nondisclosure request to the Luxembourg Business Register. Get in touch for more details.