Central Register Of Beneficial Owners Of Companies And Legal Entities 'RBE' – Latest Update

The Luxembourg Law of 13 January 2019 (the Law) implementing Directive EU 2015/849 requiring each EU member state to create a central register recording information on beneficial owners of corporates entities entered into force on 1 March 2019.

This alert summarises the latest developments further to the publication of the Grand-Ducal Regulation of 15 February 2019 and the circular LBR 19/01 of 25 February 2019.

Grand-Ducal Regulation of 15 February 2019 (the "Regulation")

The Regulation confirms the supporting documents to be submitted together with the filing:

For natural persons not having a Luxembourg national identification number, the official documents (ID card, passport, etc.) allowing the identification of the beneficial owner (the BO) (if the official document is not in roman character, a translation in French, German or Luxembourgish will have to be provided); In case the company or the BO wishes to limit the access to the information, a duly motivated request; In case the company is listed on a stock exchange (i) of Luxembourg, (ii) of an EEA state or (iii) of a third party country known as having obligations similar to the ones of directive 2004/109/EC, a document evidencing that the company is listed on such stock exchange. The Regulation also confirms how to access the information on the RBE:

From 1 September 2019, it will be possible to consult freely the RBE on the platform of the Luxembourg Business Register https://www.lbr.lu/; The search may be performed by using the company name or the Luxembourg Trade and Companies registration number of the company; The "National Authorities" have access to all current and historic information on the entities registered. Finally the Regulation provides details regarding the...