Historic post, December 14, 2020. This post is a news item or announcement from 2020 and may no longer reflect the rules in effect. For current information, see our tax resources page.
Law “For the beneficial owner” Adopted on July 29, 2020, provides for the creation of the beneficial ownership register no later than January 31, 2021, where the data of the beneficial owners of entities that are required to report them will be recorded.
The National Business Center informs that in implementation of this law, existing reporting entities must, no later than December 31, 2020, identify their beneficial owners, as well as create and maintain the relevant documentation regarding them.
This information must be recorded no later than 60 calendar days from the date the register is created (which, according to the law, must be established by January 31, 2020).
Meanwhile, the rules and procedure for registering this data will be adopted by the Council of Ministers within 3 months from the date this law enters into force.
Source: National Business Center (NBC)
