UBO obligations: why compliance is in the interest of the company, its management and UBOs

In previous newsletters we already reported on the obligation of legal persons to register their ultimate beneficial owners (‘UBOs’).

Since 11 October 2020 all legal persons, in the context of the registration, are also required to submit documents via the online platform which demonstrate that the information about their UBOs is adequate, accurate and current. Legal persons who had registered their UBOs prior to 11 October 2020 were given until 31 August 2021 to take care of this.