On the basis of Article 30 of the 4th EU Anti-Money Laundering Directive (4AMLD), the registration of the beneficial owner has been introduced for companies that have their own legal capacity. Internationally, the term “beneficial owner” is used. In the UK, since 05.04.2016, it is the duty of a company to determine the beneficial owner and to provide personal information about it to the commercial register. This obligation affects the Company Secretary and, failing that, the director or general partner. The name of the beneficial owner is publicly available in the register. Affected are the Societas Europaea (SE) legal form, with its registered office in the UK, Public Limited Liability Company (PLC), Private Limited Liability Company (LTD), Limited Liability Partnership (LLP) and the Scottish Limited Liability Partnership (SLP). In the UK, the term “person with significant control” (PSC) is used. It is not just a natural person who holds, directly or indirectly, at least 25% of the shares and / or voting rights, but also any person who, independently of the ownership interest, actually controls the company or has influence over the composition of the management. In the Republic of Ireland, it has been mandatory since 15.11.2016 to identify the beneficial owner and to register certain personal information about him. The registration is currently only done internally by the company secretary in the legal books of the company (see our information on the company secretary in the section Services UK). A publicly accessible register is currently being set up and is expected to be operational by 2018. Also on the Isle of Man, Guernsey and Jersey is the beneficial owner determine and already to report to the register. Here, at least for the time being, the situation is that the beneficial owner is known to the respective registry but not publicly available.
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