UBO register

Bill on implementation of UBO register presented for public consultation

On March 31, 2017 the draft bill on the Registration of Ultimate Beneficial Owners Implementation Act (hereinafter: the bill) was presented for public consultation

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Update on UBO register

On December 19, 2017, the European Commission published an amendment to the 4th Anti-Money Laundering Directive (2015/849). The 4th Anti-Money Laundering Directive contains rules on the UBO register. These rules must then be transposed into national legislation. 

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Update on the progress of the UBO register in the Netherlands

On January 31, 2018, the Dutch government published the proposed Decree implementing the Money Laundering and Terrorist Financing (Prevention) Act 2018 (Uitvoeringsbesluit Wwft 2018) (hereinafter: the draft decree). The draft decree stipulates additional rules for defining the ultimate beneficial owners (UBOs) of legal entities in the Netherlands. 

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Draft 2018 Decree implementing the Wwft provides greater insight into specifics of UBO register

On April 6, 2018, the Draft 2018 Decree implementing the Wwft (hereinafter: the draft Decree), accompanying the Money Laundering and Terrorist Financing Prevention Act (Wet ter voorkoming van witwassen en financieren van terrorisme; hereinafter: Wwft), was published. The draft Decree includes an elaboration of the concept of UBO (Ultimate Beneficial Owner). 

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Implementation of UBO register postponed

On April 20, 2018, Minister of Finance, Mr. Hoekstra, informed the Lower House that the implementation of the UBO register is being postponed. The reason for this is that on April 19, 2018, the European Parliament approved by an overwhelming majority the proposal to amend the 4th Anti-Money Laundering Directive, which contains the UBO register. 

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Bill on a Central Register of Shareholders

For the purposes of introducing a central register of shareholders, the bill on the Central Register of Shareholders Act (“the bill”) was presented to the Lower House on January 19, 2017. 

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