Introduction

Based on the European Anti-Money Laundering Directive 4 (AMLD-4), all EU member states - including the Netherlands – are obligated to introduce an ultimate beneficial owner (UBO) register.

The purpose of this register is to combat tax evasion, money laundering and terrorist financing. To achieve this goal, personal information of the ultimate beneficial owners of companies incorporated in the Netherlands - and other legal entities - needs to be included in a (UBO) register.

Although the UBO register (according to AMLD-4) should have been implemented on June 26, 2017, the Netherlands decided to await an amendment to this directive before implementing the UBO register. The draft bill has been presented to Parliament in 2019 and the law has become effective as of September 27, 2020.

Maprima intensively follows the developments concerning this upcoming legislation and keeps you informed through our website.