Albania: Amendments to beneficial owners registry law

Amendments aim to increase the number of obliged entities that must be registered with the beneficial owners registry

Amendments to beneficial owners registry law

The Albanian Parliament adopted Law no. 6/2022 (Albanian) regarding the beneficial owners registry. The amendments are effective from 2 March 2022.

The amendments aim to increase the number of entities that must be registered with the beneficial owners registry by extending the registration deadline, introducing the simultaneous registration of the ultimate beneficial owner along with the establishment of the reporting entity, and increasing certain penalties in case of failure to comply with the legal requirements.

Read a February 2022 report prepared by the KPMG member firm in Albania

 

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