The deadline for companies to register a UBO is postponed again, at least for some cases. We would like to tell you how this works.
We keep you informed on a regular basis about the developments in 'UBO-land'. A UBO (ultimate benificial owner) is - in short - the person who has more than 25 percent shares, ownership interest or voting rights in a legal entity (such as a BV).
Since September 2020, the vast majority of legal entities and partnerships in the Netherlands are obliged to register a UBO in the register of the Chamber of Commerce. This obligation is based on anti-money laundering regulations. Late registration can lead to fines.
Are you not yet aware of all the ins and outs on this subject? Then read our earlier contribution: SPEE lawyers & mediation | The UBO Register (spee-advocaten.nl)
Initially, the deadline for registration in the UBO Register was 27 March 2022. However, that deadline has been postponed once again, to 1 January 2023. The reason? The Chamber of Commerce will not be able to clear the backlogs in the register in time.
Please note: the new deadline only applies to companies that have submitted their documents to the Chamber of Commerce, but whose registration has not yet been processed.
In any case: if you have not yet registered your UBO, do it as soon as possible!
Do you have any questions about this topic or other corporate law topics? SPEE Lawyers will be pleased to help you on your way.