The Luxembourg law dated 13 January 2019 (the RBO Law) created a register of beneficial owners (registre des bénéficiaires effectifs) (the RBO), with the aim to preserve and make available information on the beneficial owners of Registered Entities (please refer to our latest newsletter)
END OF TRANSITIONAL PERIOD
The RBO Law came into force on 1 March 2019 and provided for a six months transition period starting on 1 March 2019. Therefore, Registered Entities (e.g. commercial companies, investment funds, all mutual funds, civil companies, non-profit associations; foundations; pension savings associations) including listed companies will have to comply with the RBO Law at the latest on 31 August 2019.
REGISTRATION AND INTERNAL FILE
By 31 August 2019, Registered Entities are required to collect and maintain in a dedicated internal file relevant information on their BO and upload the information in the RBO.
After the transitional period, registration will be submitted to a filing fee.
Defaulting Registered Entities will be subject to criminal fines.
We offer a dedicated assistance desk in order to answer your questions and determine together a tailor made approach based on your exact needs for complying with the RBO Law with fixed fees.
We undertake to revert back to you with a first approach within 8 working hours. Please contact our RBO assistance desk at: RBO [at] bsp.lu.