Beneficial Ownership requirements affecting trusts and corporate entities

The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 came into force on 22 March 2019, with the exception of Part 3 (which deals with the Central Register of Beneficial Ownership and which will come into force on 22 June 2019). See here for more detail.

We are re-issuing this In Focus paper to clarify that PPS numbers are not required to be, and should not be, included in the beneficial ownership register maintained by the corporate entity. The PPS numbers must be provided to the Registrar of Beneficial Ownership of Companies and Industrial and Provident Societies for the purpose of verifying the beneficial ownership information which will appear on the Central Register of Beneficial Ownership.

The European Union (Anti-Money Laundering: Beneficial Ownership of Trusts) Regulations 2019 came into force on 29 January 2019. See here for more detail.

For more information on this topic please contact Nollaig Greene or any member of A&L Goodbody's Asset Management & Investment Funds team.

Date published: 26 April 2019