The Minister of Finance informed the Lower House that implementation of the “ultimate beneficial owner” register is being postponed because the European Parliament approved, by an overwhelming majority, a proposal to amend the Fourth Anti-Money Laundering Directive that contains the provisions concerning an ultimate beneficial owner register.
The ultimate beneficial owner register concerns information about the ultimate beneficial owners of a legal entity to be included in the trade register. The ultimate beneficial owner register was to have been ready in 2017. A bill to implement the ultimate beneficial owner register is currently being drafted in the Netherlands. Accordingly, implementation of the Dutch ultimate beneficial owner register will be formally delayed.
The contours of the Dutch ultimate beneficial owner register are evident, and who would have to be designated as the ultimate beneficial owner of the various legal entities appears to be clear.
Read an April 2018 report prepared by the KPMG member firm in the Netherlands
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