Bill 7217 implementing Directive (EU) 2015/849 (the "4th AML Directive") with respect to the establishment of a central register of ultimate beneficial owners ("UBO Register") has been brought before the Luxembourg Parliament. The bill has yet to be adopted by Parliament which could amend the text. This newsletter is based on the bill in its current form which, as indicated, is subject to change.
The UBO Register
The UBO Register (“Registre des bénéficiaires effectifs” or “REBECO”) is a central register containing information about the beneficial ownership of companies and other legal entities incorporated in Luxembourg.
The UBO Register will be established under the authority of the Luxembourg justice minister. Click here for more..
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