The Netherlands will introduce the requirement of Ultimate Beneficial Owners (“UBO”) register beginning January 2020, subject to the legislative process in the Dutch parliament. A UBO is:
Each newly incorporated entity is required to obtain information on the persons who are ultimately beneficial owners. The Dutch UBO register will be part of the Dutch Trade Register and upon the register being in place, existing entities will have 18 months to register the details. A branch is exempt from the UBO obligation. The details of a UBO will be publicly available.
UBO details available publicly will include:
Furthermore, the Dutch government will have access to the following information:
Every company incorporated in the Netherlands may be required to identify the Ultimate Beneficial Owners in the company for the purpose of reporting, if the act comes into effect in 2020.
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