The data about beneficial owners are entered in the State Register of Legal Entities and the State Register of Individual Entrepreneurs starting this week. The measure was taken in order to execute the provisions of Article 14 of the Law No. 308 of 22.12.2017 on the prevention and combating money laundering and terrorism financing.
Therefore, legal persons and individual entrepreneurs are obliged to submit to the state registration body, respectively to the Public Services Agency the requested information regarding the beneficial owners and to inform immediately about the change of their data. According to the aforementioned Law, the information on the beneficial owner shall be presented in several cases: upon the state registration of individual entrepreneurs, non-profit organizations, limited liability companies, joint stock companies; in case of registration, reorganization or liquidation of limited liability companies and joint stock companies; and also upon the state registration of the changes to the data entered in the State Register of Legal Entities and in the State Register of Individual Entrepreneurs.
Please note that the state registration of legal entities and individual entrepreneurs is forbidden in the absence of data about the beneficial owner and/or in case the presented information is inaccurate or incomplete.
The beneficial owner is a natural person, who ultimately owns or controls a natural or legal person, or a beneficiary of an investment company or a manager of the investment company, or a person on whose behalf an activity or transaction is carried out, and/or who directly or indirectly, owns or controls at least 25% of the shares or voting rights of the legal person or of the assets under the fiduciary administration.