Shining a Light on the Beneficial Ownership of Irish Companies: New Disclosure Requirements Imminent

As part of the transposition of the Fourth Anti-Money Laundering Directive (EU 2015/849) (“4MLD”), Irish companies and other legal structures such as trusts and collective investment vehicles will for the first time be obliged to;

  • maintain details of their underlying beneficial owners and
  • report the details to a central register which will be accessible to regulators and other certain other interested parties.

It is expected that the first phase of this initiative will come into effect this month, when a statutory instrument (the “S.I.”) will be signed into law requiring entities within scope (“Obliged Entities”) to start maintaining beneficial ownership data in their own internal registers. 

Please note that there has been a recent update to this advisory. Please click here to view the update.

 

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